Swatantra Foundation to organise Defense Expo focussed on MSMEs – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/economy/swatantra-foundation-to-organise-defense-expo-focussed-on-msmes/article33713826.ece

Over 400 large, medium, small & micro units are expected to participate in the event planned for March 19 to 21 at Chennai

Swatantra Foundation, a Chennai-based institution devoted to policy research and advocacy, jointly with the Aerospace Industry Development Association of Tamil Nadu, which focuses on the aerospace & Defence ecosystem development in the State, will organise the Defence Expo Empowering MSME 21 event in Chennai from March 19 to 21.

With the current Central Government’s MSME-friendly offset policy and purchase preference policies, together with defence exports prospects with 84 countries, the defence manufacturing segment is set for exponential growth in the next five years.

The expo will focus on manufacturing, engineering services, start-ups, clothing, leather, food and services catering to the aerospace, Defence and space sectors. There is a potential indigenisation opportunity worth ₹40,000 crore, and Defence export opportunity of ₹35,000 crore. The event will aim to create awareness of the opportunity available in the defence manufacturing sector and help India Inc convert this opportunity into business.

The Ministry of Defence, Department of Defence Production, is lending logo support for the event and is represented in the Steering Committee of the Defence Expo. Tamil Nadu Industries Development Corporation Ltd, the nodal agency for the Tamil Nadu Defence Corridor, is also supporting the event.

The expo will provide an opportunity for Tier 1 companies and original equipment manufacturers (OEMs) to seek out and develop prospective suppliers. B2B collaborative meetings between large industries and MSMEs will be held to generate business opportunities for MSMEs, the release said

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