Page 12 - MMI_-- JulyAug2021 (single)

IMTMA’S DESK

FOCUSING ON GROWTH

Realizing the strategic importance of sectors such as defence, aerospace, space,
and aviation, the Government of India has earmarked them for growth. The

development in each of these domains gets percolated to other sectors and impacts
the overall growth of technology and economy of the country, also providing

significant opportunities for the Indian machine tool industry.

Source: Magic Wand Media

he Defence, Aerospace, expected to reach an estimated More than 40 Ordnance Facto-
T Space, and Civil Avia- $23 billion by 2025. It is to be ries and nine defence public sec-
tor units (DPSUs) are involved in
noted that defence public sector
tion sectors are evolv-
ing in India, attracting bigwigs undertakings invested an esti- defence production.
from various quarters. As per mated $95 million in plant and The country has more than eight
the Central Government esti- machinery while the demand advanced technology centers
mates, India was among the top outlay for plant and machinery for the development of futuris-
five countries with the highest by the Defence industry was tic technologies at premier ac-
military spending in 2019. It has approximately $120 million per ademic institutions such as the
the second-largest standing annum. The Defence Research Indian Institutes of Technology
army in the world and the union and Development Organisation in Mumbai, Chennai and Delhi;
budget of 2021-22 has proposed (DRDO), the premier agency Jadavpur University; Bharatiyar
increased funding for Border under the Ministry of Defence, University; etc. The private sec-
Roads Organisation to boost in- Government of India, has set up tor has also been involved in the
frastructure in frontier areas. more than 50 labs in India for de- defence production in a big way
Source: IMTMA Indian defence capital outlay is fence technology development. since 2001 and more than 10,000

12 | July-August 2021 Modern Manufacturing India