Best minds of defence sector came together at 20+ seminars in Gandhinagar
India concluded 12th DefExpo at Gandhinagar with orders to domestic businesses, worth Rs 1.5 lakh crore, the Ministry of Defence said on 21 Oct 2022.
The expo witnessed signing of 345 MoUs, 42 major announcements, 46 product launches and 18 Transfer of Technology agreements.
Gujarat, as host state, also witnessed the signing of 28 MoUs and one product launch.
The overwhelming response of investors and businesses showed that the objective of a US$22 billion defence sector, with exports of Rs.35,000 crore, will be achieved by 2025, said the Ministry.
The best minds of defence sector came together at over 20 seminars across three business days to brainstorm over wide ranging topics on Defence Research and Development, new technologies for air warfare, Indigenisation of Defence production, promotion of exports and encouraging investments.
India’s growing global influence was apparent in the multiple bilateral and multilateral engagements held on the sidelines of DefExpo 2022, which began from 18 Oct 2022.
“The India-Africa Defence Dialogue and the Indian Ocean Region plus Defence Ministers’ Conclave hosted by the Defence Minister and his bilateral meetings with friendly nations, was a reflection of India’s growing stature and the world’s increased confidence in the Indian defence sector.
The defence sector expansion is not restricted to large businesses as it throws up wide variety of opportunities for start-ups as well as the MSMEs, said the Ministry.
Rs.300 crore have been approved so far for more than 100 iDEX winners to develop products and technologies in more than 50 technological areas to further support this growth.
Over 6,000 applications in the last seven editions of Defence India Start-up Challenge and Open Challenge show that start-ups are contributing extensively to the growth of Indian Defence.
The Defence Minister Awards for excellence were presented to 22 enterprises of different sizes including 13 private players. fiinews.com
