DefExpo 2020 to foster partnerships, says Defence Minister
Lucknow plans over 100 events
Lucknow plans over 100 events
DefExpo 2020 will provide countries with the opportunity to showcase their equipment and platforms and help them explore the strengths and capabilities of India’s defence industry.
“DefExpo is an opportunity to foster partnerships and be part of shared prosperity. These strong ties can boost investment, expand manufacturing, raise the level of technology and accelerate economic growth of our respective countries,” Defence Minister Rajnath Singh said in an update to Heads of Missions and Defence Attaches of over 80 countries.
India’s defence sector has matured and is exploring mutually beneficial partnerships with friendly countries to set up industries in India and abroad, said Singh ahead of the DefExpo 2020 to be held in Lucknow 5-8 February 2020.
The mega expo will showcase Government’s intent to achieve a turnover of US$26 billion in aerospace and defence goods and services by 2025.
The event will showcase India’s plans for Defence Industrial Corridors in Uttar Pradesh and Tamil Nadu where investment commitments of about US$1 billion have already been received.
More than 100 business events and seminars are being planned with over 1,000 exhibitors expected at the mega event.
The Minister also urged the Ambassadors to impress upon the captains of their respective defence industries to participate in DefExpo 2020 in a big way so as to “dive deep into the strategic and business opportunities available and to establish strategic partnerships”.
Impressing upon the Expo’s sub-theme ‘Digital Transformation of Defence’, Singh highlighted that the digitalisation is the key to future security scenario as the spectrum of warfare is transiting from land, air and sea to cyber and space.
DefExpo will demonstrate India’s ability in cyberspace and define its needs in the sector.
“The challenge is not just to prepare for contingencies but also to repel threats from multiple sources and at the same time possess the ability to respond proactively if needed,” he stressed during a roundtable meeting in Delhi on 4 Nov 2019.
He reaffirmed the commitment of the Government to make India self-reliant with indigenous defence capabilities. “India has one of the largest defence industrial ecosystems in South and Southeast Asia and we aspire to further build on our strengths,” he said.
Singh also highlighted that in the last few years, the Government has been focusing on creating a defence industrial base which is technically competitive, providing viable manufacturing facilities and profitable business opportunities. He listed out various policy reforms in critical areas, including simplifying industrial licensing process, hike of Foreign Direct Investment cap to 49% under automatic route and beyond 49% under Government approval route, approval of Open General Export License policy and opening of testing and trial facilities for the private sector.
Elaborating, he pointed out that the policy reforms undertaken by the Government have boosted defence production in both public and private sectors to a record volume of Rs.80,502 crore in 2018-19.
He has set the target of Rs.90,000 crore for 2019-20.
“We have achieved an export turnover of around Rs.10,700 crore in 2018-19, with the target of this year pegged at Rs.15,000 crore,” he added.
Department of Defence Production gave a Power Point presentation detailing every aspect related to DefExpo, including information on exhibition venue, facilities, number of registered participants till now, etc.
A senior official of the Government of Uttar Pradesh gave a presentation informing the gathering about the investment opportunities in Uttar Pradesh, especially six Defence Industrial Corridor nodes of the state, i.e., Agra, Aligarh, Chitrakoot, Jhansi, Kanpur and Lucknow.
Industrial Development Minister of Uttar Pradesh Satish Mahana also addressed the gathering and assured them that any investment proposal would be cleared in a time-bound manner.
The Defence Minister released the official DefExpo 2020 inaugural film on the occasion. Fiinews.com