India’s bid to scale up with Defenc Expo amid Russia-Ukraine War
By Our Special Correspondent
New Delhi, October 13: The five days long Defence Exp in Gandhinagar is a sellout, with a massive participation of the stakeholders on the cards, as the hotels were booked out weeks ahead, while the Central government is making a big push for technology acquisition for within country production of the defence goods and also explore the overseas linkages for exports.
‘Invest for Defence’ has been planned at the mega Expo which will be held at Mahatma Mandir, Gandhinagar, Sabarmati Riverfront and the coastal areas of Porbandar in Gujarat. The event will see the major private sector defence manufacturers come across the government officials and the personnel of the armed forces to develop better understanding of the defence needs of the country.
The Raisina Hills had earlier reported that the government is ready with the blueprint for the $25 billion defence productions plan within the country with the participation of the private and the public defence manufacturers. India has also set a target of an export of $5 billion, while there is a growing list of countries making enquiries about the Indian made defence goods, including missiles, ammunitions and tanks.
“Invest for Defence is the first ever marquee event of Ministry of Defence targeted to promote investment in the defence sector in the country both by the Indian industry as well Foreign Original Equipment Manufacturers (OEMs). It will be inaugurated by Raksha Mantri Rajnath Singh on October 20 during the 12th edition of DefExpo,” said the Ministry of Defence on Thursday. It added that the event will highlight the requirements of the Armed Forces and policy reforms undertaken by the Government for ease of doing business in the defence sector.
“The event provides the industry with the opportunities and the advantages of investing in the sector and thus contributing to maximising the indigenous production. The event is expected to witness participation from the big industry names, both Indian as well as foreign OEMs, such as L&T, Adani Defence, Bharat Forge, Saab, Airbus, Lockheed Martin, etc., besides participation from Domestic and Foreign Institutional Investors and Venture Capitalists,” added the Ministry of Defence.
It has been learnt that defence ministers of more than 20 countries would be taking part in Defence Expo. The event will feature a panel discussion between the industry stalwarts and the MoD and Armed Forces leadership. The discussion will be followed by a Q&A session, wherein participants can ask questions from the eminent panelists. The target audience for the event is industry representatives including those from MSMEs and Start-ups, policy makers and enthusiasts in defence sector.
The government is also bidding for the Indian startups to join the campaign for self-reliance in the defence sector. India is pitching that the defence goods produced in the country are not only reliable but also economical.
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