A key Indo-US industry body member today urged American companies to see the technological and industrial gap between the two countries in the defence sector as a big opportunity for bilateral collaboration.
"The US needs to regard the defence industrial capability gap between itself and India as an opportunity for collaboration," Indo-American Chamber of Commerce (IACC) mentor Vivek Lall said at the Indo-US Resurgence Summit here.
At the event, attended by Telecom Minister Kapil Sibal, he said important issues need to be addressed on war footing in US-India aerospace and defence trade and stressed "long-term certainty of policy and regulatory regime in both civil aviation and defence sectors was critical."
He said the figures available in public domain suggest that by 2022 India is expected to purchase USD 100 billion worth of military equipment, while another USD 9.7 billion will be spent by 2016 on homeland security.
Lall said the US was planning to enhance its presence in the Indian aerospace and defence sector in the coming years.
"US-based companies have been looking to work more closely with India in the aerospace and defence sectors including production of aircraft and related components, air traffic management and capacity building," he said, according to a release.
He said besides major players, small and medium-sized American companies would also start engaging directly with India.
"I also expect a number of areas to grow - such as general and business aviation, avionics, and maintenance, repair and overhaul, as well as large commercial and military engagements," he said.
