Aero India 2023: India aims to take defense exports to $5 billion by 2024-25
PM Narendra Modi says, “The sky of Bengaluru is becoming a witness to the capability of New India. Bengaluru’s sky is giving a testimony that the new height is the truth of New India. Today, the nation is touching new heights and even crossing it. Aero India is an example of the expanding capabilities of India. The presence of around 100 nations here shows that the trust of the world in India has increased. More than 700 exhibitors from India and the world are participating. It has broken all the past records.”
Today in Bengaluru, the 14th iteration of Air India 2023, Asia’s largest aero show, was officially opened by Prime Minister Narendra Modi. The five-day event will be centred on showcasing homegrown tools and technologies and forming alliances with foreign businesses.
India’s defence exports are expected to reach $5 billion by 2024–2025, according to Prime Minister Narendra Modi, and the country will move quickly to join the nations that produce defences.
PM Modi said after inaugurating Aero India 2023, “In the past 8 to 9 years, India’s military industry has experienced a revival. We simply see this as the start of something bigger. By 2024–2025, we want to increase defence exports to $5 billion. India will now move quickly to join the nations that produce defence equipment. Aero India reflects the new approach of New India. There was a time when it was considered just a show. In the past few years,the nation has changed this perception. Today, it’s not just a show but also India’s strength. It focusses on scope of Indian defence industry and self-confidence.”
Additionally, by bringing together international investors and attracting co-development and co-production collaborations, the event will assist in integrating domestic MSMEs and start-ups into the global supply chain.
More than 80 nations will participate at Aero India 2023. Aero India 2023 is expected to draw participation from 65 CEOs of global and Indian OEMs as well as ministers from roughly 30 different nations. More than 800 defence businesses, including over 100 foreign and 700 Indian enterprises, will participate in the Aero India 2023 show.
MSMEs and start-ups from India will display the development of specialised technologies as well as the expansion of the nation’s aerospace and defence capabilities at the event.
Airbus, Army Aviation, Boeing, Bharat Forge Limited, BrahMos Aerospace, Dassault Aviation, Lockheed Martin, Larsen & Toubro, Israel Aerospace Industry, HC Robotics, SAAB, Safran, Rolls Royce, Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), Bharat Dynamics Limited (BDL), and BEML Limited are among the major exhibitors at Aero India 2023.
In keeping with the philosophy of “Make in India, Make for the World,” which envisions a safe and prosperous future, the emphasis will be on displaying local machinery or technology and establishing alliances with foreign businesses.
Rajnath Singh, the Defence Minister, said that the Aero India 2023 will highlight the nation’s manufacturing prowess and the advancements made towards realising the “Aatmanirbhar Bharat” as the Prime Minister had envisioned it in his speech to the curtain-raiser press conference on Sunday in Bengaluru.