Prime Minister Narendra Modi inaugurates 10th edition of Defence Expo in Chennai on Thursday.
Prime Minister Narendra Modi on Thursday inaugurated the 10th edition of Defence Expo 2018 in Chennai
The expo is being attended by over 670 exhibitors, including 150 from abroad, will showcase India?s capability in the export of defence systems and components.
India is expected to spend close to USD 300 billion in the next five years in procuring defence equipment and almost all major global defence firms are eyeing a slice of it.
Though the four-day-long DefExpo, on the outskirts of Chennai and close to the temple town of Mahabalipuram, began on Wednesday, it will formally be inaugurated by Prime Minister Narendra Modi tomorrow.
Defence Minister Nirmala Sitharaman, in a tweet, said "For the first time, India will be showcasing its defence export potential at @DefExpoIndia."
PM Modi addresses the expo
► I am delighted & overwhelmed to see an enthusiastic gathering in this historic region of Kanchipuram in the great State of Tamil Nadu.
► I am very happy to be here in the land of the great Cholas who established India's historical civilization links through trade & education
► This is the land of our glorious maritime legacy. This is the land from where India Looked East and Acted East thousands of years ago.
► It is wonderful to see that over 500 Indian companies & over 150 foreign companies are here. More than 40 countries have sent their official delegations as well.
► Our commitment to peace is just as strong as our commitment to protecting our people and our territory. For this we are ready to take all necessary measures to equip our Armed Forces, including through the establishment of a strategically independent defence industrial complex.
► We are conscious that defence manufacturing is unique in terms of government involvement. You need the govt. to grant a license to manufacture.
► Over the last few years, we have made a humble beginning.
► On defence manufacturing licenses, on defence offsets, on defence exports clearances, on Foreign Direct Investment in defence manufacturing, and on reforming our defence procurement, we have taken many steps.
► In May 2014, the total number of defence export permission granted stood at 118, for a total value of 577 million dollars. In less than four years, we have issued 794 more export permissions, for a total value of over 1.3 billion dollars.
► There was a time when the critical issue of defence preparedness was hampered by policy paralysis. We have seen the damage such laziness, incompetence or perhaps some hidden motives, can cause to the nation. Not now, Not anymore, Never again.
Major manufacturers like Tata, Bharat Forge, Mahindra, DRDO, HAL, Ordinance Factories are participating from the Indian side.
The theme of the expo 2018 is "India: The Emerging Defence Manufacturing Hub."
International companies participating in this event include Lockheed Martin and Boeing of the United States, Airbus and Rafael of France, Rosonboron Exports and United Shipbuilding of Russia, BAE Systems of United Kingdom, Sibat of Israel, Rhode and Schwarz of Germany.
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