Hyderabad: The strengthening of business partnership between the US and India, more particularly in the defence sector, is transforming the City of Pearls into a major global hub for the security business. The bilateral defence business of the two countries has reached $18 billion.
Further, the latest happenings in the defence sectors pertaining to both nations indicate growing opportunities in the security business.
For instance, a high-level meeting of foreign ministers of India and the US is scheduled on December 18. Just before that, a workshop on defence startups will be held during December 16-17 in Hyderabad, which is already home to several major defence organisations from public as well as private sectors.
The US Consulate and Nexus Startup Hub, New Delhi, are jointly holding the workshop here. Several Hyderabad-based startups will showcase their products and make presentations on innovation efforts.
The Business Council for International Understanding (BCIU), Confederation of Indian Industry (CII) and the US Consulate in Hyderabad are jointly organising Indo-US Defence Partnership Summit here on Wednesday and Thursday.
Geographical advantage coupled with an industry-friendly policy of Telangana government makes Hyderabad an unmissable destination for the defence sector, observes an industry observer.
Global majors such as GE, Boeing, Lockheed Martin and Sikorsky already have their presence in Hyderabad. Manufacturing of wings of F-16 fighter jets, leap engines, Apache helicopter spares, drones, Super Hercules Airlifter, AS-92 helicopters is going on in full swing here. Several MNCs are keen to invest in Hyderabad, said the analyst. This is creating more demand for manufacturing spare parts, for which MSMEs are coming up in large numbers.
Public-sector units like such as DRDO, Defence Research and Development Laboratory (DRDL), Advanced Numerical Research and Analysis (Anurag), Defence Electronics Research Laboratory (DLRL), Defence Metallurgical Research Laboratory (DMRL), Centre for Advanced Systems (CAS), and Bhel have been working in the city over decades.