HAL targets turnover of $6 billion in the coming 10 years: Ashok Nayak

New Delhi: HAL aspires to be listed amongst the top twenty global defence companies with a turnover of $6 billion in the coming 10 years, said Ashok Nayak, Chairman, Hindustan Aeronautics Limited (HAL).
This would call for a five fold increase in production requirements as the company at present holds 34th position with a turnover of $2 billion. The growth in India’s aviation sector will act as an opportunity for HAL to meet its growth objectives.He was speaking at the 4th international Conference on Energising Indian Aerospace Industry: Partnerships, Opportunities & Challenges organised jointly by the CII and Centre for Air Power Studies.
India needs to take bold steps in FDI policy for the defence sector. Additionally offsets obligation should be instrumental in inviting technology to India, said Air Marshal PK Barbora PVSM VM ADC, Vice Chief of the Air Staff He further stated that India needs national defence policy wherein global interdependence can be leveraged in the most optimal way. The private sector must be allowed a freer hand with accessible overseas market with a few regulations. A consortium approach must be formulated to facilitate global partnerships and Joint Ventures.
He added that hurdles in the system should be curtailed by having an indigenous approach towards development of defence industry. Initial steps can be taken by establishing MRO facilities, strengthening intellectual property rights, streamlining support infrastructure, quality controls and facilitate technology transfers, etc.
Marshal of the Indian Air Force Arjan Singh outlined that Coordination between industry and air force has been lacking, and the manufacturers and designers must be apprised about user success-ability. Expressing need for an effective defence sector, he further stated that India is in a peculiar position, as the forces surrounding us are building against us, and combination of these forces shows a bigger problem. Thus peace can be achieved by building defence and ensuring security for the people.
20/11/09 James/Machinist.in

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Categories: Indian Aviation- In General Nov 2009