New Delhi: India’s defence manufacturers have come together to launch an export-focused industry body to expand the scope of business opportunities abroad.
The ‘Indigenous Defence Equipment Exporters Association’ (IDEEA), a non-profit association under Section 8 of the Companies Act, 2013, was launched today here, in the presence of Indian Army chief General Bipin Rawat and Indian Navy chief admiral Karambir Singh.
A statement from the association said IDEEA aims to position India as the top three defence equipment exporters globally. This will be done by enabling global exposure to Indian defence equipment and capabilities, coupled with active support from the Indian government.
“It will be the interface between (the) global defence market and (the) Indian defence industry, with specific focus on MSME (Micro, Small, and Medium Enterprises),” the statement said.
The association plans to showcase their members’ products and capabilities globally in order to network and encash quality deals for its members.
There is a need to reduce the dependency on arms imports. Under ‘Make in India’ initiative, the government highlights the country to make it a defence manufacturing hub and a net defence exporter.
The government has set a target of raising Indian defence equipment exports to $5 million by 2024. With the same objective, IDEEA is aligned to the Government of India’s initiative and to boost exports by the indigenous defence industry.
IDEEA Director Major Genenal P. M. Vats said: “We intend to create employment opportunities and to boost exports by the indigenous industry by offering quality defence equipment to the global market and strengthening defence industrial relations.”
The association will include all leading defence equipment manufacturers. It is a growing band with following as founder members: L&T Defence, Zen Technologies, SMPP, MKU, Defence Applied Services, Delta Wallace, Defence Protection System and Bharat Forge.
Another IDEEA Director Dr. R. K. Tyagi, who has earlier served as Hindustan Aeronautics Limited Chairman and Managing Director, said: “Defence industry is a strategically important sector in India. IDEEA is established with a view of uplifting MSMEs and private defence players in exploring business opportunities abroad.”