'Indo-Israeli defence cooperation a platform to jointly access and capture world markets’
“India and Israel together can form a formidable team to be world leaders in the defence arena. Together, we can access and capture markets that are out of our reach individually” - Tarun Vijay, MP & Member, Parliamentary Standing Committee on Defence
NEW DELHI, September 8, 2015: “India and Israel together can form a formidable team to be world leaders in the defence arena. India with its frugal engineering skills and the repository of high technology with Israel, is a winning combination. Together we can access and capture markets that are out of our reach individually,” said Mr. Tarun Vijay, Member of Parliament, Rajya Sabha & Member, Parliamentary Standing Committee on Defence, Government of India, here today at an international seminar on ‘Strategic Defence Cooperation between India and Israel’ organized by FICCI jointly with SIBAT, Ministry of Defence, Israel.
He said that the ‘Make-in-India’ campaign that was announced by our Hon’ble Prime-Minister Shri Modiji in his Independence Day speech last year infused new vigour to the Defence Production sector. Indian companies are now seeking to explore co-production and co-development opportunities with foreign OEMs.
“This augurs well with the huge defence modernization programme, availability of skills sets and willingness to invest in strategic sector and the aspiration to get a piece of the global defence business by integrating into the global supply chain of OEMs,” However, he added that any partnership has its challenges. Discharge of Offsets was one that the Israeli companies faced till a month back. “I am happy to share with you that Ministry of Defence has now allowed the OEMs flexibility to change the Indian Offset Partner and thereby giving flexibility to fulfil their offset obligations,” he said.
Mr. Vijay said that over the past decade or so, Israel has become India’s second largest arms supplier. During the first decade of the 21st century, Israel transferred an estimated US$10 billion worth of military equipment to India. He urged the stakeholders to share the suggestions and outcome of deliberations from the seminar which he could then take up with the Ministry of Defence for successful implementation and ease of doing business.