Scope plenty for private players in defence space over last few years: Saurabh Kumar

Scope plenty for private players in defence space over last few years: Saurabh Kumar

Agency News

Kolkata, Mar 6 : Chairman and DGOF of Ordnance Factory Board Saurabh Kumar on Wednesday said there had been a paradigm shift in the defence sector over the last 7-8 years which made scope for the private players to come forward and work in tandem with the ordnance factory.

At the annual regional meeting of CII Eastern Region on Rebuild East, Invest in Development, he said DRDO had manufactured ancillary gun Dhanush which was at par with the international standards.

Kumar said there was ample scope for capital investment in the defence sector as there was need of sophistication and innovation in designs in arms and ammunition manufacturing. With six factories in the East, support from private manufacturers, including startups, were required in all spheres like automation of ammunition, data analytics etc.

With a more simplified and transparent purchase procurement in place, the private sector could play a pivotal role in this sector.

ITC Ltd Managing Director Sanjiv Puri in his special address said East was the hub of unique and multidimensional assets which are yet to be fully explored. The current policy makers were doing great work towards developing a conducive business climate in the region.

One vast area where tremendous growth opportunities were there, was the food processing industry where East could become the fulcrum.

Puri also said that due to current disparity in consumption and production, the entire value chain of food and food processing industries should surge ahead in terms of growth. He elaborated on thevarious farmer development programmes like e-Chaupal, a farmer digitisation programme, and public private partnership integrated development programme which were being introduced for the welfare of farmers.