Sat. Nov 28th, 2020

THERE IS IMMENSE POTENTIAL TO BUILD STRATEGIC PARTNERSHIP AND CONVERT INDIA INTO A HUB FOR DEFENCE SHIP BUILDING EXPORTS: MOS INDIAN DEFENCE

The Minister of State for Indian Defence, Shripad Naik said that there is an immense potential to build strategic partnership and convert India into a Hub for Defence ship building exports and repairs to friendly foreign countries.

Addressing “Confederation of Indian Industries Buyer Seller Meet” in Shipbuilding & Defence, Pharmaceutical and telecommunication earlier this week, Naik said that currently more than 60 major Vessels are being built for mainly the Indian Navy at various Indian shipyards.  He said that the Indian Navy has also obtained Acceptance of Necessity (AoN) for 61 more Ships and Submarines to be built mainly at the Indian shipyards.

The expected orders for surface ships and submarines to be executed from 2020- 30 is to the tune of 51 Billion USD. Nearly 61% of the demand for ongoing orders will be met by year 2020-21. Total value of orders with balance orders in hand and future orders for 2020-30 will be around 60 Billion USD. Out of this approx 27 Billion USD is for Submarines and approx 33 Billion USD is for Surface Ships, said Naik.

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