February 14, 2023 1:11 PM

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Defence Minister Rajnath Singh meets CEOs of OEMs on sidelines of Aero India

<span style="color: #222222;">Defence Minister Rajnath Singh has invited global Original Equipment Manufacturers (OEMs) to co-develop, co-produce, integrate and strengthen supply chains, form joint ventures, set up manufacturing in India and make for the world. He met the CEOs of OEMs on the sidelines of Aero India today in Bengaluru. During the interaction, he highlighted that India offers significant advantages of competitive land costs, skilled human capital, a vibrant start-up ecosystem and a huge domestic defence market to the Global Defence industry. He described this as a win-win situation where defence manufacturing companies from across the world can become a part of the Indian growth story.<br />''<br />''Mr Singh emphasised the importance of the defence sector for India saying, defence production meets the twin goals of becoming self-reliant in a critical sector as well as generating jobs. He also mentioned the incentives given by Uttar Pradesh and Tamil Nadu state governments for investment in Defence Industrial Corridors, central government policies promoting FDI and defence manufacturing in India, and the strong legal system protecting stakeholders' interests and improvements in ease of doing business.</span><br />

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