- Make in India is the star, 40,000 crore defence exports target.
- 251 investment agreement worth 75,000 crore is expected, said the Prime Minister
- A grand start Aero India 2023
- Presence of 98 countries. Defence Ministers of 32 countries, Air Force Chiefs of 29 countries, CEOs of 73 companies in India and abroad, 809 companies
Bengaluru: From being the largest importer of Defence, India is about to become the first exporter. Exports of Indian defence products to cross Rs 12,500 crore in 2022-23. Prime Minister Narendra Modi announced that it will reach 40,000 crores in 2024-25 at Make in India Peruma. Make in India is also expected to sign an investment deal of 75,000 crores with defence firms of various countries. 251 MoUs to be signed at Aero 2023.
Investments are in technology transfer, product launch, joint ventures etc. India aims to grow as the largest producer in this sector. Private investors should be involved along with the public sector. Modi was inaugurating the Aero India 2023 exhibition at Yelahanka Air Force Station. Aero 2023 started on Monday at Bengaluru’s Yelahanka Air Force Station.
Nine years ago, India was the largest importer of defence equipment and today it exports to 75 countries. The Prime Minister also said that with the simplification of procedures for setting up industries, foreign investment has increased in sectors including defence.
Tumkur in Karnataka and Surat in Gujarat are setting up the world’s largest helicopter manufacturing facilities. India has proved its strength by producing world class aircraft carrier INS Vikrant, Tejas fighter jets and LCH helicopters.
Defense Minister Rajnath Singh, Governor Tavarchand Gehlot, Chief Minister Basavaraj Bomma, Civil Aviation Minister Jyotiraditya Scindia and Minister of State for Defense Ajit Bhatt were also present. Air force exercises were also held as part of the ceremony.
Biggest Air Show in Asia
Asia’s largest air show, Aero India 2023 will see the presence of 98 countries. Defense Ministers of 32 countries, Air Force Chiefs of 29 countries, CEOs of 73 companies in India and abroad and 809 organisations including multinational companies are participating.
251 MoUs to invest Rs 75,000 crore in defence sector
A round table meeting of CEOs of world’s leading defence companies was held under the chairmanship of Defense Minister Rajnath Singh on Monday. The talks aimed to strengthen the ‘Make in India’ campaign and make India a defence manufacturing hub.
CEOs of Defence companies from 26 countries participated in the meeting. Apart from aircraft manufacturers Boeing, major American defence manufacturers Lockheed, Israel Aerospace Industries, Liebherr Group etc., Indian PSUs such as Hindustan Aeronautics, Bharat Electronics (BEL), BDL, BEML, Mishra Dattu Nigam Ltd., private companies L&T, Bharat Forge and Dynamic Technologies, CEOs of Brahmos Aerospace also attended the meeting.
‘Make in India, Make for World’ : Defense Ministers’ Summit
The summit of Defence Ministers of 32 countries is based on the idea that we can advance by cooperating and sharing with each other. Discussions focused on Investment, Research & Development, Cooperation, Joint Ventures, Training, Artificial Intelligence and Maritime Security.
The summit is also a part of the ‘Make in India, Make for World’ campaign. The Defence Ministers will hold crucial discussions on defence cooperation with friendly countries.
India’s Trump card Tejas Mark-2
Malaysia has expressed its interest in buying 18 such Tejas Mark-2 fighter jets at 350 crores each. Countries like Argentina, Indonesia, Philippines, Egypt and Australia have also shown interest in Tejas.The strike range of Tejas Mark-2 is 2500 km which makes India proud in front of the world. Maximum speed is 2385 kmph with 6500 kg payload.
