Greater Noida: Vice Chief of Army Staff Lt General Philip Campose today emphasised the need for a synergised approach by all stakeholders to ensure success of the 'Make In India' initiative in the defence sector.
Inaugurating a seminar, 'Make in India Made Easy: Opportunities and Challenges in Defence Sector', at the Army Institute of Management Technology here, Lt General Campose said India's 60 per cent defence procurement requirements are met by imports.
In defence sector alone, India is expected to invest over $250 billion in the next 7-8 years, he said.
Industry experts believe that encouraging private players in defence manufacture, a space that was opened up for them way back in 2001, would only commensurate Prime Minister Narendra Modi's 'Make In India' campaign and allow local industries to become globally competitive.
Though 'Make in India' initiative offers host of opportunities in the defence sector, there are also a large number of challenges that plague the defence industries and defence procurements.
