"India's Pre-Budget 2024-2025: A Golden Opportunity for Global Collaboration in Defence and Healthcare

New Delhi: Mrs. Asma Kahali, International Consultant and Director of Administration at Rimbaa Rayaa World Solutions Pte. Ltd., a leading Singapore-based defence trader and facility mobilisation company, shared her positive outlook on India's Pre-Budget 2024-2025 initiatives. Her insights highlight the immense potential for international collaboration and innovation in the defence and healthcare sectors.

"As a global consultant in defence and healthcare, I'm highly impressed by the strategic vision in India's Pre-Budget 2024-2025. Prime Minister Modi's initiatives to attract foreign technologies in these industries are commendable and forward-thinking.

The substantial increase in the Ministry of Defence budget to INR 6.21 lakh crore underscores India's commitment to modernizing its defence capabilities. This significant investment, paired with the 'Atmanirbhar Bharat' (Self-Reliant India) initiative, provides a fertile ground for international collaborations and technology transfers. The focus on deep-tech technologies for defence is particularly exciting. It offers numerous opportunities for companies like ours to contribute cutting-edge solutions and expertise. The government's balanced approach to indigenization and openness to foreign partnerships creates a win-win scenario for both Indian and international players.

In the healthcare sector, initiatives to strengthen R&D and promote domestic manufacturing of medical devices are equally promising. The Production Linked Incentive (PLI) scheme and the development of MedTech Zones showcase India's dedication to becoming a global hub for medical innovation. The focus on emerging technologies such as AI, IoT, and blockchain in healthcare presents immense opportunities for tech-driven solutions. As a Singaporean company, we see great potential in collaborating on these fronts, bringing our expertise to contribute to India's healthcare transformation.

Prime Minister Modi's vision of a 'Self-Reliant India' is not about isolation but an invitation for meaningful partnerships. The liberalized FDI policy, allowing 74% investment through the automatic route in defence, is a game-changer for companies like ours. It facilitates easier entry and deeper engagement with India's burgeoning market.

Overall, this budget sets the stage for robust growth in both defence and healthcare sectors. It strikes a balance between the need for self-reliance and the benefits of global collaboration. We at Rimbaa Rayaa World Solutions are excited about the prospects of contributing to India's journey towards becoming a global powerhouse in these critical sectors."

This perspective by Mrs. Asma Kahali emphasizes the strategic importance of international collaborations and technology transfers, positioning India as a key player in the global defence and healthcare industries.