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Defence Sector in India
At present, India comes as the 10th largest defence-spender in the world. And its defence spending has grown manifold since it came out with its first defence budget in 1950, to INR 1,450 Bn in 2009-10. Thus, the sector offers huge opportunities for both domestic and foreign companies. As per the studies conducted to analyze the growth opportunities in the Indian Defence Sector, Indian industry is upbeat about the opportunities in defence and aerospace. The Government in India is committed to continue its process of developing and fine-tuning the procurement regime and industry-drivers that will enable the Defence Industry grow at a never-before growth rate.
Presently, Indian economy procures approximately 70 per cent of its equipments from abroad. However, it now aims to reverse this balance and is committed to become self-reliant. And with the skilled intensive manufacturing capabilities and a state-of-the-art IT base, Indian economy has got the right mix of essential ingredients to achieve its aim of self-reliance in defence production.
Indian Government is now more focused on active management and fine-tuning of policy regulations, process and fiscal environment to ensure domestic growth. Defence production is an area which opens up a sea of opportunities not only for the industrial majors in India but also for the foreign companies with plans to enter the unexplored Indian defence sector.
Telecom Sector in India
Telecom sector in India is showing a growth rate of 45 per cent during the recent years. And it has been witnessing a sea of changes, backed up by significant policy reforms such as the announcement of NTP 1994 and NTP 1999. These policy initiatives have brought a complete transformation in the Telecom sector, which now promises a big leap in the future also.
As per the facts available, the Indian Telecommunications network with around 621 million connections (as on March 2010) comes as the third largest in the world due to the proactive decisions of the Indian Government. Also the liberal policies of the Government facilitate the rapid strides in the sector. This further leads to easy market access for telecom equipment and also a fair regulatory framework for offering best-in-class telecom services. With these encouraging growth figures, the Indian Telecom sector comes out as a favorite investment-destination for both domestic and international players.
How Tecnova Can Help?
Tecnova India Pvt. Ltd. has a team of professional consultants on board, with a strong network of partners across the globe. For domestic and international companies which plan to enter the Indian Defence and Telecom market, Tecnova provides best-in-the-industry solutions. From market-analysis to business set-ups, Tecnova delivers the "India-Advantage" to their clients.
At Tecnova, we offer the following services to our client in the Defence and Telecom Sector: