Prime Minister Narendra Modi has made a clear announcement of India’s share in the world’s defence market at the ongoing Defence Expo in Lucknow . PM Modi has said that India’s defence exports should be increased to about 5 billion dollars i.e. about 35000 crores in the next 5 years.
PM Modi said that in the last 2 years, our defence exports have gone up to Rs 17000 crore, in 2014 it was only Rs 2000 crore. Announcing India’s intentions in the defence market, he said that in the next few years, 200 startup companies are coming to the defence sector, this will give boost to indigenous defence sector.
Pm Modi said, “Our effort is to develop about 25 defense products of Artificial Intelligence in the coming five years. In the last five years, there has been a boom in the field of defence. After 2014, a large number of defence licenses have been provided. The target is to increase defence exports to 35,000 crores in the coming five years.“
The PM said that with the progress in the defence sector, India will not only be self-reliant, but we will also be ready to help the friendly countries if needed.
PM said that India is a reliable partner of peace. He said, “Along with the security of our country, we also have the responsibility to provide security to other neighboring countries. India’s defence ambition is not against any country. New targets have been set to increase defence manufacturing in India. Also, India’s space technology is working to serve the people of the country. ”
The Prime Minister said that this time, more than one thousand defence manufacturers and 150 companies from all over the world are participating in this expo. Apart from this, defence ministers of more than 30 countries and hundreds of business tycoons are also present here.
What is Defexpo?
Defence Expo is a program of the Ministry of Defence which is held in every two years. This time Defence Expo has been organized from 5 February to 9 February in Lucknow, the capital of Uttar Pradesh.