Air Marshal RK Sharma AVSM VM, Deputy Chief of the Air Staff, IAF said that Indian Air Force will spend INR 2 Lakh Crores on the procurements during 12th and 13th Plan periods while speaking during the inaugural of the 7th International Conference on Energizing Indian Aerospace Industry: Emerging Opportunities and Enduring Parterships co-organised by Confederation of Indian Industry and Centre for Air Power Studies on 20 September 2012. USD 4 billion worth of contracts have already been signed. MMRCA project will bring in more offsets to Indian industry. Government has taken several measures to make aerospace sector attractive through revised Defence Offset Guidelines and industry friendly defence procurement procedures.
Air Marshal also said that due to the shrinking global defence budget, the aerospace major will be forced to share critical technologies with the Indian industry. There is a lot of scope for both public and private sector to participate in the modernization programmes of the Indian Air Force. Indian aerospace industry will have to focus on the developing in-house infrastructure, training and R&D capabilities to energize this sector.
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