NITI Aayog member V K Saraswat on Thursday called upon stakeholders in the defence electronics sector to transform India to be the center of the fourth wave in defence manufacturing.
Delivering the inaugural speech at the DEFTRONICS 2016, the flagship defence electronics event organised by the India Electronics and Semiconductor Association (IESA) in association with Nasscom, Saraswat said the defence manufacturing shift globally has seen the Wave 1 from the US to Japan.
He further emntioned that though India is considered as a soft power in the space, India is yet to witness a single Indian company that develops strong end-to-end aerospace and defence software solutions,
The former Chief Scientific Adviser to the Indian Minister of Defence and Director General of DRDO opined that this has compelled India to keep depending on foreign companies. He notified that the only option for Indian electronics component companies is to target strategic electronics (defence) industry, and India should act now. India need to understand that the return on investments in the defence electronics industry in India is long-term and the players need to have a long-term view, according to his view.
By Baishakhi Dutta
