04 February 2004 23:55
JV For Futuristic Weapon On Anvil: Fernandes
India will be going in for a joint venture with various countries and corporate bodies for futuristic weapon systems.
Stating this at the inauguration of the Defence Expo-2004, defence minister George Fernandes said efforts were on to set
up a consortium with the Confederation of Indian Industry (CII) to boost arms sales in the coming years. Addressing a
press conference, Mr Fernandes said the major thrust of joint venture would be on setting up facilities for production
of spares in India, of frontline and other Russian weapon systems used by armed forces, of which India was currently
facing "desperate shortage". The minister said the creation of Rs 25,000 crore non-lapsable fund for defence
signalled the government’s firm resolve to go forward with the modernisation drive in the armed forces. He also
indicated that subsequently under license, India could sell spares to third countries. The defence minister also
disclosed that India’s Intermediate Jet Trainer (IJT), which was currently undergoing final trials, would be flying by
the end of next year. Though the time had not yet come for visualising setting up of Sino-Indo joint ventures in weapon
systems, Mr Fernandes said relations betw-een the two countries looking up, it was not far when the two sides could
tackle this issue. Responding to a question asked by a Chinese journalist as to why China was not represented at the
sixth Indian Defence expo, he said "may be they will be here next time". The defence minister said border
talks with Beijing were progressing well and the next round of talks between the two prime ministers would be held here
in the next few days. About the Advance Jet Trainers (AJTs), Mr Fernandes said that the deal with British Aerospace,
manufacturers of Hawk-115, was imminent and could come through within the next few days. Inaugurating the expo today,
the minister said the Indian Ordnance Factories sold equipments worth Rs 869 crore to non-defence customers and in the
fiscal year 2003-04, their sales to non-defence customers were expected to touch Rs 944 crore. He said that Hindustan
Aeronautics Limited (HAL) has established a global reputation for its capabilities in the aeronautics field and during
last five years, the total export of HAL were $ 69.24 million and for the current year is expected to be $ 42.5 million.
He however said what was of significance was that "not only have they succeeded to sell to non-defence buyers, but
they have made modest but definite inroads into export markets also." Speaking on the occassion, Uma Pillai,
secretary (DP&S) said that India’s 39 ordnance factories and eight defence public sector undertakings possess modern
facilities. And added that in a major policy shift, the private sector in India is now allowed to participate fully in
the defence industry. In his welcome address, Anand Mahindra, president CII said private participation in defence has
created an open environment in which private and public sector work together with armed forces and DRDO to further
strengthen the defence industrial base.
[Financial Express] |
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