India Development News & Foreign Investment Opportunities

India calls on France for collaboration in defence sector

Aero engine complex for OEMs

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Aero engine complex for OEMs

 

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Singh inspecting the Safran Engine Manufacturing Facility, in Villaroche near Paris on 9 October 2019.

French companies have been urged to form collaboration to modernise Indian shipyards and defence platforms by infusion of technology, as well as make India its base for production of defence equipment not only for the country’s large market but also for export to other countries.

Making the call, he disclosed that India and France intend to explore ways to strengthen their defence industrial partnership, he said.

Singh also highlighted India’s substantial requirement of Aero engines both in civil and military domains.

He requested French OEMs to consider exploring development of an Aero engine complex on government-to-government basis saying French companies could leverage from advantages in India such as low wages and availability of technical manpower.

“We have undertaken significant economic reforms to improve the ease of doing business and opening up the economy for investments. Our Government under the leadership of our Prime Minis under the ‘Make in India’ initiative”, he told Chief Executive Officers (CEOs) of French Defence Industries in Paris on 9 Oct 2019.

The Minister underlined the significance of implementation of a single Goods and Services Tax across India, the biggest tax reform since its independence.

“We have recently reduced our corporate tax significantly. For ‘Make in India’ in Defence if there is need for further tax rationalisation, it may be considered suitably”, Singh said.

Applauding French companies for regularly participating in DefExpos organised in India with great energy and enthusiasm., he extended a special invitation to French firms to participate in DefExpo, which will be held in Lucknow from 5-8 February 2020. fiinews.com

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