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Aerospace & Defence
About the Aerospace & Defence Industries
The Aerospace/Defense Industry serves, as its name represents, two main markets: (a) Aerospace, which largely comprises the production, sale, and service of commercial aircraft. And (b) Defense, which is dependent on the nation’s need for military weapons and systems designed to operate on land, sea, and in the air.
Enhancing role of SMEs in Indian Defence industry:
SMEs constitute over 90% of all enterprises in most economies and are engines of economic growth and equitable development. They are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports. They also play a key role in the development of economies with their effective, efficient, flexible and innovative entrepreneurial spirit. As new technologies and globalization reduce the importance of economies of scale, the potential contribution of smaller firms is increasingly enhanced. SMEs take emerging markets toward higher growth and enhance their international competitiveness.
The government earmarked a special role for SMEs in the Industrial Policy Act, 1951, with special provisions for their protection.
Major players in Indian Aerospace & Defence Industry
- Hindustan Aeronautics Limited (Hal)
- Indian Space Research Organisation (ISRO)
- Defence Research Development Organization (DRDO)
- Bharat Electronics Limited (BEL)
- Bharat Dynamics Limited (BDL)
- Bharat Earth Movers Limited (BEML Limited)
- Ordnance Factory Board (OFB)
- Mishra Dhatu Nigam Limited (MIDHANI)
Rules & Regulation
The Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act 2006) MSMED Act was enacted in 2006 to address policy issues affecting SMEs as well as the coverage and investment ceiling of the sector. The salient features of the act include:–
- Creation of a national board of SMEs
- Proper classification of enterprises
- Advisory committee to support SMEs
- Measures for promotion, development and enhancement of SMEs
- Scheme to control delayed payments to SMEs
- Scheme for closure of SME businesses
- Enactment of rules by state governments to implement the MSMED Act, 2006 in their respective states.
Legal Services of Preach Law LLP
The firm provides advice on cutting-edge issues that cover multiple legal and business disciplines. Our expertise and understanding of the business is the foundation for providing full range of legal services including:
- Foreign Investments
- Regulatory
- Structuring
- Import and Export Control Laws
- Contracts
- Teaming Agreements
- Offset policy
- Joint Ventures
- Sourcing/ Supply Agreements
- Manufacturing License Agreements
- Review/ Appeal of Administration Decisions
- Arbitrations & Litigation
- Bid Management
We understand that PPPs are destined to play an important role in the Defence sector and we consider that our expertise in this area adds significant value to the transactions on which we advise.
