It also added that it has signalled the growth of India’s defence industry as a “sunrise sector” for international investment, in keeping with the expo’s theme of “Path to Pride.”…reports Asian Lite News
The signing of 451 Memorandums of Understanding, Transfer of Technology Agreements, product launches, and orders to domestic businesses totaling Rs 1.5 lakh crore during DefExpo 2022 demonstrated India’s advancement toward achieving “Aatmanirbharta” in the field of defence.
According to a press release issued by the Ministry of Defence on Friday, it also demonstrated the integration of the needs of the armed forces, R&D, and defence production by both public and private players.
It also added that it has signalled the growth of India’s defence industry as a “sunrise sector” for international investment, in keeping with the expo’s theme of “Path to Pride.”
Additionally, it stated that the event, which took place in Gandhinagar, Gujarat, over the course of five days beginning on October 18 saw unprecedented participation from over 1,340 exhibitors, companies, investors, start-ups, MSMEs, Armed Forces, and delegates from various nations, with engagements spread out over four venues.
The tremendous reaction from corporations and investors demonstrated that the goal of a USD 22 billion defense sector with exports of Rs 35,000 crore by 2025 will be accomplished, the statement said.
It added that the greatest minds in the defence industry gathered for more than 20 seminars over three working days to discuss a variety of subjects, including defence research and development, new air warfare technologies, indigenization of defence manufacturing, promoting exports, and attracting investments.
The statement further noted that an investor outreach event called “Invest for Defense” was organised for the first time, bringing together companies and investors.
It also stated that the Prime Minister made several announcements, including the 4th Positive Indigenization List, the inauguration of Air Force Station Deesha, which is only 130 kilometres from our western border, the unveiling of the HTT-40 trainer aircraft developed by HAL, the launch of Mission DefSpace, and the opening of the India and Gujarat Pavilions.
The statement also mentioned the numerous bilateral and multilateral engagements that were held in conjunction with DefExpo 2022, highlighting the India-Africa Defence Dialogue, the Indian Ocean Region, the Defence Ministers’ Conclave that was hosted by the Defence Minister Rajanth Singh, as well as his bilateral meetings with friendly nations.
It also said that the Armed Forces, DRDO, and DPSUs held live demonstrations on the banks of the Sabarmati River, captivating the Gujarati people in person as well as millions of viewers via digital media. It also added that on October 19, Gandhinagar was delighted by the largest-ever drone display, with 1,600 drones, as thousands of people marvelled at India’s technical advancement, which was made possible by local start-ups.
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