Defence Minister Rajnath Singh today said that the government has taken several initiatives to modernise armed forces and produce high quality and cost-effective weapon systems and platforms.
“The Defence Expo-2022 is going to provide an overview of what India has been able to achieve in terms of defence R and D and production, application of modern technologies, liberalized collaborative policies that we have introduced in a short period of 5-7 years,” Singh said.
He told the envoys that the participation of their respective countries at the expo will lead to the development of “mutually advantageous relationships” in the defence sector. “India is open to doing business on a mutually beneficially collaborative basis, in the spirit of giving and take, for the all-round welfare of everyone,” he said.
Over 90 countries with more than 200 delegates participated in the event today. DefExpo-2022 will be held at Gandhinagar in Gujarat from 10th to 13th March next year.
The Minister expressed commitment to support growth of modernisation and capabilities.
He pointed out that defence capital outlay has been increased in the annual budget of 2021-22 by 18.75 per cent from the preceding year.
This is the highest ever increment in the last 15 years.
Identified pillar of growth in Defence Export:
Mr. Singh said the aerospace and defence manufacturing sector is ready to soar to newer heights and has the potential for research and development in space, cyberspace, futuristic capabilities and disruptive technologies such as Artificial Intelligence, blockchain, Virtual Reality, 3D printing, digital frontier and Internet of military things.
Major global and domestic military firms are expected to participate in the biennial edition of the DefExpo with their latest weaponry and platforms.
The government is expected to highlight measures at the event to transform India into a hub of military manufacturing.
The government has initiated a series of measures in the last couple of years to encourage the domestic defence industry.
“It is because of the collaborative efforts of entities from all over the world that our defence exports have grown by 334 per cent in last five years and now India is exporting to more than 75 countries. Our export performance is a strong indicator of the quality and competitiveness of our defence products,” Rajnath Singh said.