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Def Expo 2020 marks the beginning of a new India across the defence sector
March 2020
|Aviation Update
DefExpo-2020 was held at Lucknow from February 5-8 witnessing a huge response including defence ministers of 40 countries and over 3,000 delegates from 70 nations who attended the event. Uttar Pradesh Chief Minister Yogi Adityanath called the event to as the 'Mahakumbh' of defence equipment manufacturing companies and that in the coming years; the event will become a strong base for the defence corridor and a "new hub" of defence equipment production.
This year the theme of the event was 'India: The Emerging Defence Manufacturing Hub' and reportedly received proposals worth Rs. 5 lakh crore for investment, of which work has already started on projects worth Rs. 2.5 lakh crore. Moreover, 23 MoUs have been inked with the state government which would generate employment opportunities for over three lakh youths in the state.
Over 200 partnerships involving Signing of Memorandum of Understanding (MoUs), Transfer of Technology (ToTs) and Product launches were concluded on the third day of DefExpo. The pacts inked in a ceremony tilted Bandhan, were aimed at forging and renewing partnerships for innovative collaboration, and transformation of the Defence manufacturing in the country. They were signed by representatives of various DPSUs, Indian private Defence companies and foreign companies in the presence of Defence Minister Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath in Lucknow. On this occasion, the Defence Minister said that the signing of MoUs are a step in the direction to achieve Prime Minister’s 5 billion dollar defence exports target in next 5 years.
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