The Government of India (GoI) is willing to consider tax concessions for the defence manufacturing industry, Defence Minister Rajnath Singh told honchos of French defence majors in Paris on Wednesday.
Addressing CEOs of French defence industry, Rajnath Singh said, “Government is ready to consider further tax rationalisation measures to encourage Make in India. We had Rafale induction yesterday which signifies deep defence relationship.”
Rajnath Singh said the government has already reduced corporate tax significantly and tax concession can be considered as further rebate.
A day after the Rafale induction Rajnath Singh interacted with top industry representatives urging them to be part of the Make in India initiative.
“Primary aim is to invite you for Make in India. There can be collaborations on technology,” Rajnath Singh said.
Rajnath Singh stressed that ease of doing business in India has gotten better.
Rajnath Singh also urged the French industry captains to be part of the Defence Expo being held in Lucknow, Uttar Pradesh next year to be held between February 5 and 8 in 2020.
Attended a meeting with the CEOs of French companies operating in defence sector in Paris today.
Also, extended them special invitation to participate in @DefExpoIndia which is scheduled in Lucknow next year. pic.twitter.com/oXaBmwiigK
Rajnath Singh (@rajnathsingh) October 9, 2019
INCREASE IN DEFENCE PRODUCTION
Earlier, Secretary Defence Production Barun Mitra made a presentation on the changing scenario of defence industry in India.
He mentioned that there has been and 80 per cent increase in defence production and a 130 billion dollar market that awaits them in India.
“With India continuously upgrading its military capabilities there is an opportunity for all to join hands,” he said.
INDUSTRY LEADERS IN PARIS
Rafale manufacturers Dassault Aviation CEO Eric Trappier was also among 16 industry leaders who were present there.
The other companies represented were Airbus helicopters, Safran, MBDA, Nexter, Rafaut Roxel, Naval group, Roxel, Arquus and Thalas among others dealing with various defence equipment.
After the meeting the industry leaders welcomed the initiative of the consideration of tax rebates Rajnath Singh spoke about.