"India is going to commit huge resources on defence modernisation in the coming years. Hence, those of you (industry leaders) who are ready to invest in the sector have, perhaps, one of the best opportunities to get favourable returns on investments," Bhamre said.Currently a lot of defence equipment are being imported. "Should we put our heads together, it should be possible for us to reverse the equation in the next few years," said. "When we talk about the defence sector and its requirement, I must flag that technology up-gradation has invaded the battlefield in a major way...technology up-gradation is extremely rapid. "The industry needs to know what the armed forces are looking for...what would be their requirements in the coming years.

Source: Economic Times February 05, 2019 09:00 UTC