Prime minister inaugurates Aero India show and pitches for Make India in defence sector
GN Bureau | February 18, 2015
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.
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