Image Source : PIB Prime Minister Narendra Modi with other leaders during the inauguration event of Aero India 2023 in Bengaluru.
Prime Minister Narendra Modi on Monday said that the country would increase its annual defence exports over the next two years to $5 billion. As major arms firms flocked to the five day biennial Aero India air show in Bengaluru, the country is aiming to sign various defence deals.
At India’s biggest ever air show, the country’s airlines are trying to complete aircraft purchases to meet civilian demand. India is also pressing global aircraft manufacturers for partnerships and to produce more locally.
ALSO READ: Tejas jet, INS Virat examples of India’s potential, says PM Modi as he inaugurates Aero India 2023
The Government has said that it would push smaller domestic companies and start-ups to make parts for large global defence products and attract foreign investment for joint production. India for decades has been among the world’s biggest importers of defence equipment however, it is now trying to explore the global arms export market.
Prime Minister Modi in his speech at the air show said that India, today is not just a market for defence companies, but it is also a potential defence partner. Mod called on India’s private sector to invest more and more in the country’s defence sector.
India has been exporting various defence equipment to the world which include Hindustan Aeronautics (HAL) (HIAE.NS) Dhruv helicopters to the Philippines, Mauritius and Ecuador and Russia-India venture BrahMos Aerospace’s supersonic cruise missiles to the Philippines.
ALSO READ: Aero India 2023: Everything to know about Asia’s largest aero show
Indigenous air platforms including Tejas, Dhruv, HTT-40 training aircraft, Dornier light utility helicopter and the light combat helicopter are likely to be promoted for exports at the air show in Bengaluru.
FAQs
Q1: What is the Aero India show?
In Bengaluru, India, the Aero India show is a biennial air show with exhibits and demonstrations from leading global aerospace and aviation companies.
Q2: How important is the Aero India show for the Indian defence sector?
The Aero India show is a critical event for the Indian defence sector as it provides an opportunity for Indian defence companies to showcase their latest products and technologies and to connect with potential buyers and partners from around the world. It also helps to promote the Indian defence sector as a hub of innovation and expertise.
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