Press Release
The American Chamber of Commerce in India (AMCHAM)
will host a meet of Aerospace & Defence
Suppliers on 20th October 2010 at Bangalore.
The Chief Guest for the conference is Sri. M
M Pallam Raju, Hon’ble Minister of State
for Defence, Govt of India. The objective of
the meet is to facilitate one-on-one meetings
of American defence buyers with suppliers based
in India. The meet is expected to draw over
a hundred suppliers indicating the growing clout
of Bangalore as a defence & aerospace hub.
The
event is supported by Boeing International Corporation
India Private Ltd., Bell Helicopter India, Goodrich
Aerospace Services Pvt. Ltd, Honeywell International
(I) Pvt Ltd., Lockheed Martin India Pvt. Ltd.,
Lockheed Martin Missiles & Fire Controls,
Textron India Pvt. Ltd. and other US companies.
We have received good participation from Indian
supplier companies and around 100 registrations
have been received.
India
is one of the largest global military spenders
with the third largest defence procurement budget
in Asia. Indian defence procurement spending
is expected to increase to $42 billion by 2015,
including $19.20 billion for capital acquisitions,
making it one of the most attractive defense
markets in the world.
India
is poised to become a leading manufacturer and
exporter of defence as a result of its proposed
defence procurements coupled with a strong and
sensible offset policy that is focused on achieving
national industrial policy objectives.
India’s
Defence Public Sector Undertakings (DPSUs),
by virtue of being in the sector for several
decades, have developed capabilities in aerospace,
shipbuilding, communications and electronics.
The growth of private players such as SME’s
who entered post-liberalization, are doing sub
contracting work for DPSU’s and have also
partnered with defence suppliers for manufacturing
orders. The SME’s could play a key role
in developing the supply chain in India.
This
conference will go a long way in building confidence
between the US and India, increasing trade in
India’s defense equipment sector and seeking
cooperation partners for both the Indian &
US defense equipment industries.
12.10.2010
AMCHAM India
New
Delhi
www.amchamindia.com
