The Indian government is open to taking further measures to rationalise taxation so as to encourage 'Make in India' in the defence manufacturing sector, Defence Minister Rajnath Singh said on Wednesday.
Addressing the top CEOs of the French Defence Industry here, Singh said, "We have recently reduced corporate tax significantly. For the Make in India in defence, if there is a need for further rationalisation, then it may be considered suitable."
Highlighting the purpose for his meeting with the top CEOs, Singh said, "The primary aim is to explore the ways to strengthen our defence industrial partnership. I hope this event will provide traction to pitch for our Make in India initiative and it will be equally beneficial to you to engage with us."
The Defence Minister also said that India would be open to exploring the opportunity of the co-production of the high-end defence equipment and seek collaborations to modernise country's shipyards and defence platforms by the infusion of technology.
"India would be open to exploring the opportunity of the co-production of high-end defence equipment, and we want collaboration to modernise our shipyard and defence platform by infusion of technology," Singh said.
Singh pitched that the French firm can make India as its base for the production of defence equipment, and "not solely for India but to other countries as well and can consider an aero-engine complex on the government to government basis."
The CEOs of Dassault Aviation, Airbus Helicopters, Nexter, Arquus, Rafaut Sas, Sogitec Industries, Roxel, Naval Group, Thales, Safran, MBDA, Assystem were present at the meeting.
The meeting was conducted on the background of the Defence expo which will be held in Lucknow in 2020 with the theme of 'Digital transformation of defence.' (ANI)