Domestic defence output will double in five years

Prime minister inaugurates Aero India show and pitches for Make India in defence sector

GN Bureau | February 18, 2015


#Aero India show   #narendra modi aero india speech  



Inaugurating the 10th biennial edition of Aero India at Air Force Station in Yelahanka, Bengaluru, prime minister Narendra Modi asserted that defence is at heart of Make in India programme and the domestic procurement of defence equipment will be increased from 40 percent to 70 percent in next five years.

He said that there is a need to improve Indian defence system stressing the need for defence preparedness. “The defence industry will succeed more if we bring the manufacturing sector in India,” Modi said on Wedneday.

PM pointed out that 60 percent of India's defence equipment continues to be imported and said "studies show that even a 20 to 25 per cent reduction in imports can create additional 1,00,000 to 1,20,000 highly skilled jobs."

He said that in coming five years, the domestic procurement of defence equipment will be increased from 40 percent to 70 percent. “We would double the output in our defence industry. The impact in terms of job creation will be great. The aerospace industry will alone need 2,00,000  people in another 10 years.”

Nine defence ministers from across the globe, including Israel’s Moshe Ya’alon were present on the occasion. As many as 33 countries and 328 foreign and 295 Indian companies are taking part in the show (February 18 to February 22).

“Our security challenges and international responsibilities are well known. We do need to increase our defence preparedness. We do have to modernize our defence forces. We have to equip ourselves for the needs of the future, where technology will play a major role. As a nation of one billion people, we also have huge requirements for managing internal security. We are increasingly integrating technology and systems into it. These opportunities make Aero India an important international event. For me, this is not just a trade fair for defence equipment,” Modi said in his speech on Wednesday.

Comments

 

Other News

BHEL commissions supercritical thermal power plant in UP

With the commissioning of the third unit of the Prayagraj Super Thermal Power Project (PSTPP), Bharat Heavy Electricals Limited (BHEL) has successfully executed the 1,980 MW coal-based supercritical thermal power project in Uttar Pradesh.   The first two units of the project

A corporation to be set up for Digital India

The ministry of electronics and information technology (MEITY) will set up a new body, Digital India Corporation (DIC), to execute prime minister’s ambitious Digital India programme. The corporation will subsume some of the existing agencies within the ministry including the National e-Gove

India, Japan to build Asia-Africa corridor to checkmate OBOR

While India and China are pitted against each other in South Asia and the Southeast Asian region, and the former’s refusal to participate in Beijing held summit on One Belt One Road (OBOR) initiative was a low point in their bilateral ties, New Delhi is now preparing an initiative that will r

Pragati Maidan to be turned into exhibition-cum-convention centre

The existing Pragati Maidan complex is set to get a new face with its redevelopment into a world class state-of-the-art integrated exhibition-cum-convention centre (IECC).   CMD, India Trade Promotion Organisation (ITPO), L C Goyal and CMD, NBCC (India) Limited, Anoop Kumar M

GAIL clocks 57% rise in profit after tax in 2016-17 FY

GAIL (India) Limited has registered 57 percent rise in profit after tax (PAT) for the 2016-17 fiscal with the PAT increasing to Rs 3,503 crore from Rs 2,226 crore in the last fiscal.   The rise in profit was boosted mainly by a turnaround in the company’s petrochemical

The case of former coal secy and the anti-corruption law

  A senior bureaucrat, apparently much respected among the administrative circles, faces two years in jail. His crime: a decision that may have come from the political leadership.   HC Gupta, a former coal secretary, is among the three bureaucrats convicted b



Video

प्रभुनाथ सिंह को हत्याकांड में उम्रकैद की सजा

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter