Synergy among government, defence PSUs and private industries is needed for defence indigenisation, he said while delivering the valedictory address at a two-day seminar organised at the College of Defence Management (CDM) on indigenisation.
He said the base of Indian defence industries is sure to increase and, therefore, the private sector should take calculated risks in investment, according to a release.
Singh suggested that defence exports be permitted so as to provide the necessary relief for the private industries for the investment they have made.
He also suggested that a competition be conducted among IITs for bright technical ideas which could be incorporated in defence production and the best idea should thereafter be funded for development and subsequent production.
Singh congratulated the CDM and city-based Indian School of Business (ISB) for organising the seminar and hoped the suggestions and outcomes of the event would help the policy makers, the release said.
Speaking at the seminar, S B Agnihotri, DG Acquisition, Ministry of Defence, spoke about the Offset Policy and emphasised the need for developing the Indian base to maximise defence production both by the Government and private sector.
Singh, Consultant, DRDO said the organisation is a technology facilitator and not a production agency, while proposing the need for certain organisational changes in various bodies and creating an interface between Govt, PSUs and private industries to expedite defence production and procurement.
