New Delhi: The Indian Air Force on Wednesday said the delays in delivery of products by the indigenous firms was a cause of concern for it and efforts should be be made to cut down "time and cost overruns".
Addressing a CII seminar on aerospace, IAF Vice Chief Air Marshal R K Sharma said the private and public sector defence industry should work as partners and look towards exporting their equipment to friendly foreign countries for enhancing their commercial viability.
"Product delivery of public sector suffers from severe time slippages. The IAF is most concerned over the time and cost overruns," he said, while noting that this was happening mostly in the case of indigenous public sector firms.
His statement comes at a time when several IAF projects such as the Light Combat Aircraft, Airborne Early Warning and Control Systems and Akash missile have been delayed.
The IAF Vice Chief also urged the private sector industry to invest more in research and development for making itself globally competitive.
At the seminar, HAL Chief R K Tyagi suggested formation of Indian Aeronautics Commission where various organizations and institutes currently functioning under different ministries can be put under one umbrella.
"This will ensure greater cohesion, synergy, understanding and speeding-up if decision-making in aerospace- related activities," he said.
Tyagi said the new government's initiatives such as increasing FDI limit in defence sector to 49 per cent, and the re-allocation of civil aircraft manufacturing to the department of defence production will help the aerospace sector to grow.