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States » SouthPosted at: Jul 19 2019 3:22PM


Indian Defence and Aerospace Needs IDFC

Bengaluru, Jul 19 (UNI) Considering the huge potential of industrial growth in Defence and Aerospace (both civil and military) and challenges of meeting the financial needs for mega aviation projects in India, it is important to think of establishing Indian Defence Finance Corporation (IDFC) on the lines of Indian Railway Finance Corporation, IRFC, Dr R K Tyagi, Chairman of Aeronautical Society of India (AeSI) and former HAL Chairman said here today.
“With Defence Corridors planned in Tamil Nadu and UP, other initiatives of the Government, opportunities will abound in these sectors and we will need more money than ever”, he added at a Seminar on ‘Energising Indigenisation in Aerospace and Defence' organised by AeSI and the Society of Indian Technologies and Industries (SIATI) here on Friday.
Dr Tyagi said that "on civilian front, India will need at least additional 1000 aircraft which means the country buying two aircraft per week in next few years and our industries must take advantage of such a situation by developing indigenous civil aircraft to ensure success of Government’s Regional Connectivity Schemes like UDAN. The future belongs to technology and the use of Artificial Intelligence and Robots will be more pronounced”, according to a HAL release.
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