As many as 330 foreign companies are headed for Aero-India 2015 in Bangalore, with another 270 Indian companies also marking their presence at the five-day exhibition, to be inaugurated by Prime Minister Narendra Modi on February 18, officials said.
The biennial Aero-India, in existence since 1996, has become a major platform for armament giants over the last decade with India's emergence as the world largest arms importer, inking as it has defence deals worth well over $60 billion.
India will spend another $120 billion in arms acquisitions over the coming decade, with its 1.5-million strong armed forces still grappling with several operational gaps ranging from fighters and helicopters to artillery and submarines.
IAF alone wants over $35 billion to stem its eroding air combat edge with induction of new fighters and helicopters, mid-air refuellers and transport planes, spy and combat drones, advanced missiles and radars.
It's no wonder that companies ranging from Boeing, Airbus and Lockheed Martin to BAE Systems, Israeli Aerospace Industries and Dassault Aviation have all queued up, with many bringing their fighters and helicopters for the airshow. "There will be 72 aircraft on display. The US will have the maximum number of companies (64), followed by France (58), UK (48), Russia (41), Israel (25) and Germany (17)," said an official.
With Modi repeatedly proclaiming that one of his top-most priorities is to make India self-reliant in defence production, his 'Make in India' policy will be the airshow's central theme. "Towards this, the defence manufacturing investors' summit and global CEOs conference will be held for the first time. Around 150 CEOs each from foreign and domestic industries have been invited. At least five defence ministers and six military chiefs among the over 60 official delegates from abroad will also be there," he added.
All will be keen to ascertain how exactly the Modi government plans to translate its talk of building a strong domestic defence-industrial base into concrete action on the ground. The hike in FDI cap to 49% in the defence sector, for instance, is yet to fully enthuse global arms companies.
But the pickings are there for all to see. Indian armed forces, for instance, are looking to induct over 1,000 helicopters of different types in the next 15 years, most of which will now be manufactured in India with foreign collaboration.
Indian private companies, many of whom are tying up with global arms firms, are also keen to enter defence production. The government, on its part, is working to remove bottlenecks for arms exports as well as streamlining the complicated 'Make' procedure for indigenous R&D, development and production of weapon systems.
The new 'Make' procedure will include the government funding 80% of the development cost of a weapon prototype, with the industry chipping in with 20%, in "long-gestation and high technological risk projects". The funding could go up to 100% if MSME (micro, small and medium enterprises) are also involved in the venture, officials said.
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