While inaugurating Aero India 2023 in Bengaluru on Monday, Indian PM Narendra Modi emphasised that India aims to increase its defence exports from $1.5 billion to $5 billion by 2024-25.
Overview
PM Modi inaugurated the 14th Aero India show, touted to be Asia’s biggest defence show — a five-day event from 13 February to 17 February — with the theme ‘The Runway to a Billion Opportunities,’ to display indigenous equipment and technologies while forging partnerships with foreign companies in line with New Delhi’s ‘Make in India, Make for the World’ vision.
The event will see the participation of over 800 Indian MSMEs and global companies from 98 countries across the world.
Aero India is a wonderful platform to showcase the unlimited potential our country has in defence and aerospace sectors. https://t.co/ABqdK29rek
— Narendra Modi (@narendramodi) February 13, 2023
Modi noted that India was previously known to be the largest defence importer, but now exports defence equipment to 75 countries. Referring to the turnaround in the defence sector in the past nine years, he urged the private sector to “play a big role” in making India “among the largest defence manufacturing countries” in the world.
This year’s event has broken all previous records. There is participation from MSMEs, Indian startups as well as companies from across the world.
— Jyotiraditya M. Scindia (@JM_Scindia) February 13, 2023
The theme of Aero India - The runway to a billion opportunities is being truly realized.
PM @narendramodi #G20India #AeroIndia2023 pic.twitter.com/g6FxNU9vCf
The PM also referred to India’s reforms for ‘Ease of Doing Business’ in the country to garner foreign direct investment in the defence sector, and specifically mentioned the enhanced tax benefits for manufacturing units in this year’s budget.
Rajnath Singh’s Comments
“India has become the fifth-largest economy in the world due to the vision and determination of our Prime Minister,” Indian Minister of Defence Rajnath Singh highlighted, noting that the country “is well on course to become the third largest economy in the next 4-5 years.”
#AeroIndiaShow2023 is being held in Bengaluru. PM Shri @narendramodi is gracing the inaugural ceremony with his presence. https://t.co/tzXObM29mT
— Rajnath Singh (@rajnathsingh) February 13, 2023
Additionally, Defence Secretary Giridhar Aramane held meetings with delegations from the US, Saudi Arabia, and Oman to discuss future bilateral defence cooperation issues on the sidelines of the event.
Russia’s Showcase
Russian state-owned company Rosoboronexport revealed that it would exhibit an estimated 200 types of the most advanced Russian-made military equipment, including the Su-57E top-notch fifth-generation multirole fighter and the Checkmate light tactical aircraft, at the event.
Further, a source said the company aimed to discuss possible ways to manufacture the Checkmate fighter jet in line with the ‘Make in India’ programme.
#BREAKING: #BNNRussia Reports.
— Gurbaksh Singh Chahal (@gchahal) February 13, 2023
Russia will showcase over 200 types of weapons, military equipment at the Aero India 2023 exhibition @DefProdnIndia. Indian Prime Minister Narendra Modi @NarendraModi inaugurated 14th edition of #AeroIndia2023 held at #Bengaluru. #Russia #Defense
In this respect, Moscow plans to propose “new points of cooperation within the joint development and production of hi-tech products on the premises of Indian enterprises.”