In the wake of recent policy reforms in the defence sector, including the release of the Defence Procurement Procedure (DPP), the Confederation of Indian Industry (CII) organized a meeting on July 22, wherein defence and procurement experts highlighted the opportunities available to Micro Small and Medium Enterprises (MSMEs) of the Adityapur industrial area in particular and the state at large.

“The state government is keen to remove bottlenecks in the procurement process and simplify various aspects of the procurement set-up to boost private industry participation in the defence sector,” said Rear Admiral Pritam Lal (retd) while speaking on the topic “Doing Business in the Aerospace and Defence Sector”.

Speaking on the occasion, Tata Steel’s Senior Procurement Official said, “With Jharkhand accounting for 17.6% of the total steel production in the country, it is important to to give thrust on existing and emerging business opportunities in the defence sector for MSMEs.”

Tata Steel’s Chief Procurement Officer, Amitava Bakshi, said, “Jamshedpur being the manufacturing hub of the state with an industrial area housing more than 500 operational units, it becomes essential to discuss and deliberate on existing and potential business opportunities in the defence sector.”

A senior CII functionary said the provisions of the new DPP, which lays emphasis on indigenous design, development and manufacture, have the potential to generate good business for domestic MSMEs.

“Estimates show that the Indian Air Force will have more than 1,000 fighter jets and around 600 squadrons by 2030,” said CII Jamshedpur Council Chairman Killol Kamani.

The convenor of the MSME panel, A K Shrivastava, said Indian aerospace and the defence sector provides significant opportunities for Indian and foreign companies globally.

Source: The Times of India