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Last Updated : Jul 26, 2019 10:23 PM IST | Source: Moneycontrol.com

PSUs rule the roost in defence manufacturing despite opening up 18 years ago: Report

The report quoted government data presented in the parliament, which stated that the annual turnover of the private sector in the defence and aerospace sector is around Rs 15,000 crore, while that of the public sector is about Rs 63,208 crore, which is four times that of the private sector.

Representative image
Representative image

Public sector undertakings (PSUs) earn more than four times their private counterparts in the defence and aerospace manufacturing sector, according to a report by The Economic Times.

The report quoted government data presented in the parliament, which stated that the annual turnover of the private sector in the defence and aerospace sector is around Rs 15,000 crore, while that of the public sector is about Rs 63,208 crore, which is four times that of the private sector.

The report noted that the numbers presented by the Defence Ministry in the parliament showed that private players' involvement in the defence sector did not take off as expected, as it was expected to give a major boost 'Make in India' initiative.

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Moneycontrol could not independently verify the report.

The defence sector has been open to private enterprises since 2001, and from 2014, policies around licensing and procedures have been eased, but private players find it hard to match up with the public sector companies in this sector.

The report noted that at least three private players also have shared their grievances with the government over the last four years over undue advantages given to the public sector enterprises in the defence sector.

They have even spoken against the nomination of PSUs for major defence contracts. Since 2014 major contracts that went on nomination basis to the public sector included making AK 203 rifles for the army, manufacturing frigates for the navy, and making Kamov Ka 226 helicopters and minesweeper vessels.
First Published on Jul 26, 2019 05:45 pm
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