In the video of Ajit speaking at Deftronics 2015, he briefly favorably mentions speaking to people regarding 'India Defence'.

I found an article that provides some insight into the the changes taking place via 'Make in India'.

http://economictimes.indiatimes.com/news/defence/dont-restrict-us-in-defence-manufacturing-space-say-private-players/articleshow/49503253.cms

......."The government has identified six areas that private companies can bid for in the defence manufacturing space under the Make in India drive.... which means replacement of the usual system of tenders and lowest bids -- but stakeholders are upset that they can't participate in more than one sector.

Parrikar also said there would not be any repetition of players in the six areas.

"There won't be repetition. If X group has been taken in as a strategic partner in one segment, it will not be considered for another segment. It can participate in partnership for other products," Parrikar had said.

The six sectors identified are aircraft and their major systems; warships of stated displacements, submarines and their major systems; armoured fighting vehicles and their major systems: complex weapons that rely on guidance systems; Command and Control System and critical materials (special alloys and composites).

..... the formation of the Association of Defence Companies in India will see a broad-basing of the country's manufacturing base, a process that is already underway in the small and medium industries sector

The alliance includes Boeing, Lockheed Martin, Bell Helicopter, Punj Llyod, AgustaWestland, Reliance Defence, the Tatas, Rolls Royce, Saab, Northrop Gruman, Rolta, BAE Systems, Dassault, HoneywellBSE -0.43 %, Thales, Finmeccanica, Hindustan Aerosystems and Merlinkhawk Aerospace.

At a meeting earlier this month, the stakeholders felt the alliance would serve as a representative platform, with a unified voice, on policy matters pertaining to the government, armed forces and state-run enterprises that affect their operations.

This apart, the forum could also promote collaborations, support improved understanding among the members, pursue India's strategic needs and deal appropriately with the interests of all the stakeholders.

This also means there would would be greater interaction between the armed forces and defence manufacturers, something that is sorely lacking now."