Cautioning that India may be called upon to play a 'significant role' in ensuring peace and stability in its extended neighbourhood, Defence Minister A K Antony said the country's security apparatus should be well equipped to deal with any challenges."With our growing stature, the need of the hour is to develop stronger defence capabilities to safeguard our interests", the Defence Minister said in his address to country's top strategic experts and defence planners.He said India, as a prominent regional player, "may be called upon to play an increasingly significant role in ensuring peace and stability in our immediate as well as extended neighbourhood and in the Asian region".For this he said, "We have to ensure that our security apparatus is well-equipped to deal with various challenges effectively".Without naming Pakistan, where Emergency was imposed recently, the Defence Minister said India was monitoring developments in the region.While sizing up the security threats and scenario facing India, the Defence Minister said the threat from terrorism continued to be major security challenge as he felt there were little chances of conventional war breaking out in the region.