Aerospace ind purchases likely to be worth USD 35 billion

Hyderabad: Indian aerospace industry is likely to purchase equipment worth USD 35 billion over the next ten years including aircraft, a top official said. Vivek Rae, Director General (Acquisitions) under the Defence Ministry said the Indian companies will get at least USD 10 billion worth of defence contracts under 'offset clause' that mandates any foreign company which secures Indian defence contract should outsource 30 per cent of the contract to Indian firms. "Indian aerospace industry will be making purchases worth USD 35 billion over the next ten years. Medium Multi-Role Combat Aircraft purchase itself will be about USD 15 billion," Rae told PTI on the sidelines of a seminar at Indian School of Business. The Defence Ministry has short-listed France's Dassault Aviation SA's Rafale and EADS' Eurofighter Typhoon for supply of MMRCA in April.
11/12/11 IBN Live

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Categories: Indian Aviation- In General Dec 2011