India land of billion opportunities for defence equipment makers: Nirmala Sitharaman

BENGALURU, Feb 20: The 12th edition of Aero India 2019 began with the thunder of metal birds dotting the skies of Indian Air Force Yelahanka Air fields and Defence Minister Nirmala Sitaraman gave a clarion call to global Defence companies saying that India was a land of billion opportunities for Defence equipment manufacturers to expand globally by investing in the country.
Speaking at the inaugural function of the Asia’s biggest air show, she said that Prime Minister Narendra Modi Government had rolled out a red carpet to Defence equipment manufacturers and under Make in India policy the country had signed 200 MoUs in this sector amounting to an investment of Rs 1.27 lakh crore in the last one year alone.
”Now we will be signing another 164 request for proposals that will be executed in the next one year with a size of Rs 2.80 lakh crore investment for Defence procurement. So, there are huge opportunities for the global majors to tie up with Indian companies in government, public and private sectors to tap the opportunities,” she added.
She said ease of doing business had been the focus of the union Government and its offerings of better provisions, facilities and policy was providing a big boost to the growth of the country. With 100 per cent FDI allowed in the Defence manufacturing sector India is poised to take a big leap in Defence production to be among top countries in the world.
She said that Aero India was a calendar event for Bengaluru known as the Silicon Valley of the East that also house major Defence related units and Research and Development organisations. Make in India proposition in aerospace sector had resulted in big time expansion of Defence related manufacturing in this part of the country.
”This edition of this biennial event has attracted 600 Indian and 200 foreign companies are participating in the Asia’s largest Defence and aerospace exposition. Civil Aviation too joining hands,” Ms Sitaraman said.
The Minister also lauded the contribution of Start-Ups in the Defence manufacturing sector. India had become the capital of Start-Ups with over 20,000 of them in operation replicating what was happening in Israel. This sector is making big difference to aerospace sector.
Speaking on the occasion, Union Minister for Civil Aviation Suresh Prabhu said the civil aviation sector was witnessing a boom in the country and it was posting 20 per cent growth on month to month basis. ”Indian aviation market is emerging. We have added new airports in a big way and the country now has 103 airports. In the next 10 to 15 years 100 more airports will come up being built at a cost of USD 65 billion”. He said Udaan the low cost air service had made a big difference and even lower sections of the society were now able to fly to various remote destinations at a cheaper cost. Udaan had already connected 235 destination. Affordable air travel is our aim.
Mr Prabhu said aircraft making giant Boeing had predicted that India would need 2300 new civil aircraft to cater to its fast expanding civil aviation sector and it was important that India produced more aircraft on its own.
”We are working on this strategy,” he added.
The current edition of Aero India is witnessing 61 metal birds on flying and static display. This includes HAL’s indigenous products Light Combat Aircraft Tejas all set to roar in the city skies.
The five-day long biennial event, which will showcase India’s air Defence prowess, will also act as a platform for aviation companies, the Defence sector and government to forge new alliances and contracts.
Besides Tejas, the HTT-40 (Basic Trainer Aircraft), first indigenously upgraded Hawk Mk132- named as Hawk-i, Civil Do-228, Advanced Light Helicopter (Rudra), Light Utility Helicopter (LUH),Light Combat Helicopter (LCH) are scheduled to fly in the air show. (UNI)

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