Inaugurating the 11th edition of India’s biennial military exhibition DefExpo 2020 in Lucknow, Prime Minister Narendra Modi said India is not just a big market but also a huge opportunity for the world. Inviting foreign defence manufacturers to invest in India, he said, “India has unlimited possibilities for defence manufacturing. There is talent and technology, there is innovation and infrastructure, and there is favourable policy and security of foreign investment.”
“Our mantra is Make in India, for India, for the world. In 2014, the export of defence equipment from India was about Rs. 2000 crore. In the last two years, it has gone up to toRs. 17,000 crore. In the next five years, our target is to export of 5 billion US dollar, which is about Rs. 35000/- crore,” the Prime Minister said, asserting that Uttar Pradesh is going to be one of the biggest defence manufacturing hubs in India.
The Prime Minister apprised that two large defence manufacturing corridors are being constructed in India. One in Tamil Nadu and the other in Uttar Pradesh. Under the Defence Corridor of UP, nodes will be established in Aligarh, Agra, Jhansi, Chitrakoot and Kanpur, besides Lucknow.
He informed that MoUs worth Rs. 3700 crores have already been signed for Uttar Pradesh and Rs. 3200 crore for Tamil Nadu defence corridor. In order to give further impetus to defence manufacturing in India, new targets have been set.
“Our goal is to bring the number of MSMEs in the field of defence production beyond 15000 in the next five years. In order to expand the idea of I-DEX, it is targeted to start 200 new defence Start-Ups to scale-up. The effort is to develop at least 50 new technologies and products.
I also suggest that the major industry bodies of the country create a common platform for defence manufacturing so that they can take advantage of both the development and production of technology in the field of defence,” the Prime Minister added.