|
|
Union Home Minister P. Chidambaram has called for the involvement of private sector in supply of defence equipment, saying that the “old mindset” that it affects secrecy was creating obstacles for “import substitution”.
Chidambaram, who was addressing the 6-th year celebrations of Tube Investments of India Ltd in Chennai, said, ‘Most of our defence manufacturing in India is of basic nature. We are heavily dependent on imports for sophisticated equipments on countries like the US and others."
"When the nation can trust the employees of public sector units, it can also trust the patriotism of private sector workers in supplying defence equipments," he said.
Mentioning that there is a vast scope for expansion of Tube Investments, he added that, “Indian engineering industries have the capability and capacity to absorb technology and manufacture advanced technology products."
He added that India should adopt import substitution.
He praised the Murugappa family, saying, "The Murugappa Group has been able to accommodate every member of its family through organic and inorganic growth and at the same time infuse professionalism by offering lateral entry to outsiders."
Tube Investments of India Ltd is a part of the $3 billion Murugappa Group.
