Gokul Chandra Pati, Indian defense production secretary said, “The focus of Defexpo 2014 is displaying defense manufacturing capabilities.” He also added, India imports 70 per cent of the defense needs and buys spares of almost $2 billion every year, and is facing problems with Russia in getting spares at reasonable prices. In this financial year, defense orders worth $6.6 billion have been awarded to public sector defense companies and state-owned Ordnance Factories Board.
This time the Defense expo started against the backdrop of a falling Indian rupee against the US dollar, which has eroded the purchase capacity of India by more than $3 billion. The defense sector was opened to investments by the private sector, including foreign direct investments with a limit of 26 per cent. However, no major original equipment manufacturers has tied up with domestic private sector companies to produce high tech weaponry, as reported by DefenseNews.
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