UKIBC and KPMG launch report on Opportunities in India’s Aerospace & Defence Industry
On Thursday 13th August, the UKIBC, together with our partners KPMG, released the report at UKIBC’s 3rd Aerospace & Defence Industry meeting.
The report was launched by Alan Gemmell, HM Trade Commissioner for South Asia. Among those present were: Jayant Krishna, Group CEO UKIBC; Richard McCallum, Vice-Chair, UKIBC; Brig. Gavin Thompson, Defence Advisor; Dominic Beales, First Secretary UK DSE; Stan Rodgers, UK DSE; Andy Love, UK DSC; Kishore Jayaraman, President, Rolls-Royce India and South Asia (and also the Chair of the UKIBC ADIG Group); and members of the UKIBC Aerospace & Defence Industry Group (ADIG Group).
The report on opportunities in the Indian Aerospace and Defence industry was prepared together with KPMG as our knowledge partners on behalf of our ADIG.
Defence and Aerospace remains a critical sector for India. Increased engagement in the extended neighbourhood has meant that the pressure to enhance the capabilities of the armed forces is now greater than ever.
India aspires to develop a defence manufacturing ecosystem worth USD 5 billion by 2025. Simultaneously, crucial GOI initiatives such as ‘Make in India’ and ‘Atmanirbhar Bharat’ consider defence as a key sector for achieving the target of a USD 5 trillion economy.
To develop a flourishing Indian defence sector, it will be important to support foreign technology transfer and foreign investment in India which will ultimately lead to co-development and co-creation of capabilities that can meet not just the needs of India but also be exported to third countries. In this report, we identify some key areas where the UK and India can collaborate.
You can view the report, including an overview of India’s defence manufacturing sector, key reforms and opportunities, in full using the link here.