We are thrilled to announce that Crescendo Worldwide is gearing up for an exciting start to the new year with a roadshow planned in Hyderabad and Bengaluru in January 2024. Additionally, we are proud to share that Crescendo Worldwide will be participating as an exhibitor in Wings India 2024.
In the dynamic landscape of Defense and Aviation, India has witnessed remarkable growth. Between 2012 and 2023, the CAGR for Indian Defense equipment exports soared to an impressive 41.9%. Aligning with this trajectory, the Indian Government has set an ambitious target of INR 40,000 crores in exports by 2027.
Crescendo Worldwide applauds the active involvement of private Indian corporations and MSMEs in supplying technically advanced systems. With the flexibility provided by the FDI policy, allowing up to 74% FDI under the automatic route and up to 100% through the Government route, partnerships and joint ventures with international organizations are on the rise.
Make-II (Industry Funded): Initiatives falling within the 'Make-II' classification will encompass the prototype advancement of equipment, systems, platforms, or their enhancements, including subsystems, sub-assemblies, and components. These endeavors are primarily aimed at import substitution and pioneering solutions. It is noteworthy that no governmental funding will be allocated for the specific purpose of prototype development in these projects.
In line with the principles of “Aatmanirbhar Bharat Abhiyan,” the DAP fosters domestic design and production. The "Make" procedure includes:
Establishes Indigenous Content (IC) criterion to integrate Indian manufacturers into the international Defense supply chain:
Crescendo Worldwide leverages opportunities provided by the Open General Export License 2 for select parts and components, as well as intra-company transfers of technology. The establishment of the Export Promotion Cell, along with the introduction of the Defenseexim.gov.in portal, further streamlines the coordination and dissemination of export leads.
Reduction of import burdens and self-reliance is reflected in the development and production of defense equipment within the country. The Ministry of Defense has released four Indigenization Lists, encompassing over 900 components, systems, and subassemblies, with a cumulative valuation of INR 750 crores.
FDI Policy: Increased FDI limit from 49% to 74% under the automatic route in the Defense sector. FDI inflows rose from US$ 169.5 million to US$ 410.2 million (2014-2022), facilitating ease of doing business.
Offset Policy: Encourages investments in Transfer of Technology (ToT)/Critical Technologies, managed by the Technology Development Fund (TDF) for efficient and transparent offset discharge claims.
Introduction of Open General Export License (OGELs), opens up the exclusive export gateway, fostering innovation and global collaboration for meticulously selected defense components, tailored for intra-company technology transfers.
A Catalyst for Global Success
The Export Promotion Cell orchestrates and oversees export actions, propelling the Indian defense industry onto the global stage with heightened visibility and accessibility. Embrace innovation with the avant-garde Defenseexim.gov.in portal, a cutting-edge platform disseminating export leads to benefit registered Indian defense exporters.
Global Ambassadors of Defense Exports
Empowered with a strategic budget, Defense Attachés forge alliances, strengthen international ties, and champion Defense Exports for mutually beneficial collaborations.
Facilitating Global Partnerships
Committing to camaraderie with friendly nations, extending a Line of Credit, facilitating the acquisition of Defense equipment, and fortifying diplomatic bonds for international security.
Exemplifying Excellence in Quality Assurance
Dedicated to quality, certified products are deemed "Fit for Indian Military Use" by DPP-notified agencies, with access to MoD’s testing infrastructure for meticulous validation.
As we embark on these exciting ventures, Crescendo Worldwide remains committed to innovation, excellence, and contributing to the growth of the business contributing to the Indian Defense and Aviation industry. Join Crescendo Worldwide in shaping a future of innovation, collaboration, and excellence in defense production.