Bi-Monthly Sector Update | Aerospace & Defence | February 2021
While the budget could have been more generous, the momentum generated by orders to private industry need to be continued. 2021 has begun on solid footing for the indigenous industry in India. A $6.5bn contract for 83 LCA Tejas aircraft - the largest order for indigenous procurement was signed during Aero India 2021 earlier this month. A $20mn order for indigenous SWITCH tactical drones was awarded to an Indian company. Policy regulations have been relaxed including performance guarantee rules for defense contracts.