Research and Markets has announced the addition of “Indian Defence Industry Report” to their offering. It is estimated that defence procurement up to 2012 will be over USD45 billion, which makes it one of the most attractive defence markets in the world in terms of business potential.
Currently about 70% of the procurement in value terms, is from foreign sources. The current defence market for private sector firms in India, which includes outsourcing from Defence Public Sector Units and Ordnance Factories is estimated to be USD700 million. This spend will further increase since the Indian Defence Industry is determined to increase the participation of private players. Presently more than 5,000 Indian companies are supplying around 25% of components and subassemblies to state-owned companies.
