India is aiming to increase defence export to US$ 5 billion in the next five years, Prime Minister Narendra Modi said while inaugurating the DefExpo 2020 in Lucknow.
He highlighted the measures taken by the central government to boost manufacturing and attract investors to set up a base in India.
He emphasised that India cannot entirely depend on imports and said that India is building several defence equipment like artillery guns, aircraft carriers, submarines, light-combat aircraft, and combat helicopters.
“Our mantra is Make in India, for India, for world. In 2014 the export of defence equipment from India was about Rs 2,000 crore. In the last 2 years it has gone up to Rs 17,000 crore. In the next five years our target is export of USD 5 billion, which is about Rs 35,000 crore,” the prime minister said.
India is not only a major market globally but a vast opportunity for the world, he said, asserting that Uttar Pradesh was going to be a major defence manufacturing hubs in India.
HAL, Israel Aerospace Industries (IAI) and Dynamatic Technologies signed a MoU for marketing, manufacturing & selling of IAI’s Unmanned Ariel Vehicles.
PM Modi also spoke about developing India’s presence in outer space.
“We are going to enhance our presence in the outer space in coming years,” he said, while adding that the DRDO is putting up effective protection for India’s assets in outer space created by ISRO.
“Our defence preparedness is not aimed at any country as India is a reliable contributor to world peace. It’s our responsibility to ensure security of not only India but countries in the neighbourhood as well,” he said.
The theme of the event is “India: The Emerging Defence Manufacturing Hub”. The Hindustan Aeronautics Limited (HAL) is leading the organising of the DefExpo in coordination with the Ministry of Defence (MoD).
The aim is to technological improvements in the defence secto rand provide countless opportunities for the government, private manufacturers and start-ups.
Jets like Rafale, which India will acquire from France, Lockheed Martin’s F-35 Lightning II, will brace Lucknow’s skyline during the Expo.
Indian fighter jets and helicopters would also be showcased during the five day event.