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Last Updated : Aug 26, 2016 03:00 PM IST | Source: CNBC-TV18

Expect lot of changes in defence in next 6 months: Walchandnagar

In an interview to CNBC-TV18, GK Pillai, MD & CEO, Walchandnagar Industries spoke about the latest happenings in his company and sector.

In an interview to CNBC-TV18, GK Pillai, MD & CEO, Walchandnagar Industries spoke about the latest happenings in his company and sector.

Below is the verbatim transcript of GK Pillai's interview to Prashant Nair and Ekta Batra on CNBC-TV18.

Prashant: Take us through what is happening on the defence side. We have spoken many times about this but what is going on? Are orders coming? Are orders being awarded or not yet? We know the policy, the new procurement policy for example, a lot of debate, we have spoken many times about that but what about ordering, is it happening?

A: There has been a good feeling as far as the industry is involved in the defence sector is concerned. The good feeling has unfortunately not yet resulted in real orders to the manufacturers.

But at the same time, I would like to say that yes, this change, which is happening in the defence sector, to fructify into orders does take some time. So we were waiting for this thing to happen. I am confident that perhaps the next six months to one year, a lot of changes will happen and we are waiting for that in reality to happen.

Having said that companies like Walchandnagar are keen to translate into real purchase orders for us to start manufacturing.

Ekta: We have the US Air Force Secretary who is going to visit India on August 29 and there is talks that there could be production of India and US aircrafts etc, what has your conversation with the industry been and what has the past incidents been in terms of such talks? Can we expect something tangible on the ground to result from this?

A: This is definitely a welcome sign because having nothing -- it is better you at least have some talks. But the talks to fructify into real tangible business volume will take time. With regards to the US Air Force Secretary visiting India and obviously what we have also been hearing that she is very keen to see to it that there is some sort of an agreement with Indian manufacturers -- more so, they have even said that they would like to manufacture some of their aircrafts in the country. So this augurs well, no doubt on that. However, how it will be translated to a real time orders to the Indian defence manufacturer particularly in the private sector, one has to wait and see.

First Published on Aug 26, 2016 03:00 pm