According to a joint report released by IESA, Nasscom and Roland Berger the market opportunity for aerospace and defence electronics in India could reach $70-72 billion in the next 10-12 years.
At present, India has the seventh largest aerospace and defence market, said the report.
“Though India is considered as a ‘soft power’ in the space, we are yet to witness a single Indian company that develops strong end-to-end Aerospace and Defence software solutions. As a result, we keep depending on foreign companies,” said NITI Aayog member V K Saraswat.
“We expect the government to support startups in the defence electronics industry in India.”