Reliance Defence, Allies to Form Association of Defence Companies

Reliance Group
NEW DELHI, India - Oct. 9, 2015 - PRLog -- In a what could set new paradigms in the defence sector, more than 60 domestic and global defence organisations have come together to set up a forum that could be an outside point of control for matters related to policy formation and promoting business interests of small, medium and large enterprises in the sector.

The forum, called the Association of Defence Companies (ADC) in India, will promote the nation’s interests in indigenous defence manufacturing under the ‘Make in India’ umbrella.

Besides Reliance Defence, the ADC will have the likes of TATA Advanced Systems, Punj Llyod, Ashok Leyland, besides foreign companies like Dassault Aviation, Lockheed Martin, Rafael Advanced Defense Systems, Rolls Royce India, DCNS, Boeing, among others


"Representatives of over 60 defence companies, from various parts of the country, met on October 1 in New Delhi and agreed to form an industry forum specifically aimed at promoting the interest of small, medium and large enterprises in the defence manufacturing sector," a statement by the forum said.

All the forum stakeholders share a common vision that the defence sector is positioned for a big upsurge, with initiatives like ‘Make in India’ and others supporting it.

"All the representatives present in the meeting were unanimous that the ADC would serve as the most representative platform to provide a single unified voice on policy matters with the government, armed forces, PSUs and MoD that directly or indirectly affect their operations,"
the statement said.

While the ADC will be a threshold for policy proposal and formulation, it would also foster stakeholder collaboration, support and enhanced understanding for establishing equality of all stakeholders’ interests while engaging in business with the Ministry of Defence and other Ministries concerned with the nation's security.

"There was unanimous support and enthusiasm for the steps taken by the Government of India with the Make in India initiative opening the defence sector to the private industry, including enhanced FDI," it said.

Defining its core objectives, the ADC has laid focus on defining statutory parameters for engagement with the Indian defence industry that include strategic nurturing of the defence eco-system, exploring business avenues globally and internally, defining agendas on policy matters and leveraging new associations for greater outreach in defence markets worldwide.

Reference Link:-http://www.business-standard.com/article/companies/defenc...