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    FM’s Announcement on Defence & Space sectors – Reaction Quote from COO of Saankhya Labs

    Published on May 16, 2020

    Defence –

    Dr. Vishwakumara Kayargadde, Co-Founder and COO , Saankhya Labs said, “We are pleased with the measures announced by the Finance Minister today to provide a boost to domestic manufacturing in the defence sector, which are in line with the country’s Make in India mission. By raising the FDI limit in defence manufacturing under the automatic route from 49% to 74% and by putting a ban on the import of certain defence equipment, today’s announcements have provided a boost to Indian companies in providing indigenously designed  and manufactured solutions. Another important step in the form of allocating a separate budget for defence procurement will see new investments in the sector and help high-tech companies such as Saankhya Labs an opportunity to develop next-gen indigenously designed, developed and manufactured (IDDM) communications solutions for the armed forces. Additionally, with the Government taking measures towards the indigenization of imported spares, we will see new technology-driven startups emerge in the defence sector and this will provide a major fillip to the sector.”

     

    Space –

    Dr. Vishwakumara Kayargadde, Co-Founder and COO , Saankhya Labs said, “We welcome the steps announced by the Government of India today to boost private participation in space related activities. Measures such as allowing private companies to use ISRO facilities and other relevant assets to improve their capacities will enhance corporate India’s involvement in India’s space sector journey. Additionally, with the Government allowing private organizations to be a part of future projects for planetary exploration and outer space travel, we will surely see the dynamics change in this technology-driven sector. These steps will boost the capability of private organizations to provide state-of-the-art technology solutions to this industry while providing a level playing field in sub-sectors such as satellites, launches and space-based services.”

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