Modi in US: Predator drone makers see great potential in India
General Atomics CEO Vivek Lall said that there had been so many policy reforms in the last several years that have made investors and those wanting to collaborate with India have greater confidence.
Prime Minister Narendra Modi on Thursday met General Atomic CEO Vivek Lall in Washington, DC, during which the latter spoke at length about the confidence and policy reforms emerging out of India.
Speaking after his meeting with the Prime Minister, Lall said that he appreciated the great potential that India has from an investment perspective.
General Atomics are the makers of Predator drones. India has planned to acquire 30 Predator drones to enhance its military capabilities along the borders with Pakistan and China. Two MQ-9 predator drones are currently in operation with the Indian Navy.
During their interaction, the Prime Minister spoke about India's liberal drone policy and the opportunity in the field of manufacturing due to the production linked incentive scheme.
Stating that India's policies and reforms in the field of drones are laudable, the General Atomic CEO said that the latest drone rules will catalyst a lot of investment into India.
India is an attractive destination for the manufacturing of drones, Lall said, suggesting that a dedicated drone hub could be created in India to support the entire ecosystem of drones.
During their discussions, Prime Minister Modi and General Atomic CEO spoke about strengthening the defence technology sector in India.
Lall appreciated the recent policy changes to accelerate defence and emerging technology manufacturing and augment capacity building in India.
"There are a lot of potential areas of collaboration that we are in discussion. Many of my colleagues in the US companies see India as a very promising destination from a two-way standpoint -- not only technologies and investments coming in but coming back to the US as well. So it is a win-win scenario. The policies and reforms that have been formulated by both countries benefit both and that is why this is a sustainable model," the General Atomic CEO said.
Speaking about Prime Minister Modi's leadership, Lall said that there had been so many policy reforms in the last several years that have made investors and those wanting to collaborate with India have greater confidence.
The ease of doing business in India has certainly increased, he added.