India on Monday said it is willing to collaborate with international players to operationalise aerospace weapons and platforms and undertake shared efforts in technology development, but any such partnership should share the gains and risks as well as the work structure.

The willingness to collaborate ranges from combat aircraft to early warning systems and Unmanned Aerial Vehicles, tactical missiles and military propulsion systems, Defence Minister A K Antony told an international seminar in Bangalore.

"Shared efforts in technology lead to the development of cost effective solutions," he said in his address at the seminar on 'Aerospace Technologies: Challenges and Opportunities', an event which is part of the Aero India 2007, commencing in Bangalore on Wednesday.

"However, any such partnership should share the gains, risks as well as the work structure," Antony said.

He said it is the government's resolve to introduce fairness and transparencey in its dealings and added that the offset policy of the government seeks to provide avenues for the growth of medium and small-scale entrepreneurs.

This policy will also help smaller players upgrade their engineering and manufacturing skills to compete with the best in the world.

"Several small players have in fact come forward to showcase their capabilities and tone up their skills through interaction with global players," he said.

Antony said Indian industry today competes with the best in the field in terms of efficiency, competitiveness and maintaining quality standards.

India is fast emerging as a manufacturing nerve centre for companies from all over the world. Several foreign partners want to leverage India's proven skills in product designing, assured quality and value addition, he said.

"Aerospace firms can outsource the services of engineers and space professionals," he said.

"These companies can benefit from availability of skilled manpower at low cost. This is the reason why foreign firms see India as an attractive destination for more cost effective production of defence items," he added.