Welcoming the government’s announcement on procuring defence equipment domestically also to foster innovation by R&D budget to private firms Ashish Saraf, VP and Country Director for Thales in India said that  “Thales welcomes the forward looking statements by the Union Finance Minister that seek to strengthen the vision of Aatmanirbhar Bharat. The allocation of 68 percent of the defence procurement budget for domestic equipment in FY23 is a positive step towards self-reliance. Moreover, efforts to foster innovation by earmarking 25% of Defence R&D budget to private firms, start-ups, and academia bode well for all stakeholders and will allow international OEMs to bring more technology into India. We also appreciate the budget’s emphasis on collaboration between government and industry, with private companies urged to take on the design and development of military platforms in collaboration with DRDO. These steps will enhance local capabilities and build our expertise at a world class level. We, at Thales, remain committed to strengthen our industrial footprint in India by developing our local teams, futuristic technologies and partnerships in line with the ‘Make in India’ initiative.”