Australian firms eyeing opportunities in India’s defence industry

The South Australian Government has signed an agreement with the Confederation of Indian Industry (CII), which will foster closer economic ties and investment opportunities. “Defence is a central pillar of the state’s economy, employing 28,500 South Australians and contributing about $2 billion to our economy each year,” said Martin Hamilton-Smith, Minister for Investment and Trade, Australia.

The memorandum of understanding (MoU) to be led by Defence SA is a platform for ongoing success and supports companies seeking opportunities in defence, aerospace and advanced manufacturing sectors. South Australian defence companies, such as Nova Systems, SAGE Automation and AU Space Services, will benefit from a strategic advantage to attract investment, export products and services and drive jobs growth.

“With the developing globalisation of industry, it is clear that international inter-association recognition and co-operation can help to reinforce mutual objectives, foster co-operation and achieve economies of effort,” said Hamilton-Smith.

Last year, Prime Minister Narendra Modi and Australian Prime Minister Tony Abbott extended defence cooperation to cover research, development and industry engagement. Following this, the Australian and Indian Governments established a new framework for security cooperation, paving the way for South Australia’s defence industry.

Systems Australia has worked successfully with India in the past, supplying Hawk simulators and training devices to the Indian Air Force for Hawk pilot training. We are looking for more local companies to replicate this over the coming years. We have held a series of highly productive defence related meetings during this visit, and extended an invitation for the Confederation of Indian Industry to visit Adelaide early next year,” said Hamilton-Smith.

According to Chris Burns, chief executive officer, Defence Teaming Centre, there has been a fundamental shift in the Indian Government’s approach to its defence industry. “The signing of the MoU is timely in that it allows South Australia’s defence industry to collaborate through the auspices of the Defence Teaming Centre and CII to pursue mutually beneficial opportunities,” he added.

Source: Business Standard

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