Wet-lease specialist Ascend Airways Malaysia has secured an air operator’s G Satheesh Reddy, Member of the National Security Advisory Board (Government of India), has stated that domestic sourcing of Defence components and equipment has increased significantly over the last few years. “In India, we were producing a bare minimum (of defence components, equipment) 20-25 years ago. Most of the things required by the defence sector were imported. The defence sector used to spend 90 per cent of the capital expenditure on imports,” he said. He was addressing a session on ‘Opportunities in Aerospace and Defence sector’ at the Hyderabad Entrepreneurship Summit organised by The Indus Entrepreneurs (TiE Hyderabad Chapter) here on Saturday.
