Over 400 memorandum of understandings (MoUs) are expected to be signed at the biggest ever DefExpo 2022, with 33 of them would be Gujarat specific and worth ₹5,500 crore, defence secretary Ajay Kumar said on Friday.
In the DefExpo at Gandhinagar which is starting from October 18 and will continue for five days, over 1,300 exhibitors including start-ups, from PSU and private industry, will display products that is aimed at boosting central government’s initiative of bringing in Atmanirbharta (self-reliance) in military sector.
Speaking to media ahead of the expo in Gandhinagar, Ajay Kumar stated over 400 MoUs will be signed this time which is double since 201 were done during the last DefExpo at Lucknow.
Apart from that, he stated ten States have also come up with their individual policies to attract manufacturers. So far, two defence corridors have also come up in Uttar Pradesh and Tamil Nadu to realise the potential of the defence sector which is also visible since stocks of related companies are doing well in the market.
At the DefExpo, the government would be hosting two conclaves -- one for the Indian Ocean Region and the other for African nations. Keeping China in mind, the defence ministry is hosting Indian Ocean Region plus conclave and has invited 28 countries’ defence ministers to showcase India’s enhanced indigenous capacity development and deliberate to make the area safe and peaceful for trade and prosperity, special secretary defence Sanjay Jaju told the media.
With Africa being a large defence market India is trying to engage the continent nations through the conclave at the DefExpo. For the first time, there will be a special session for the first time on how to facilitate greater funding in the defence sector, defence secretary Kumar elaborated while adding there is no dearth of government funds. According to him, the defence budget has gone up by 35 per cent in the last three years which is based on the requirement of the forces.
Defence Research and Development Organization (DRDO), meanwhile, will display a wide range of 430 products encompassing the strategic and tactical weapon systems, defence equipment and technologies at the expo. The major theme for this year’s DRDO participation is based on 3D (DRDO, Designed and Developed) ecosphere which will highlight its strong linkages with both industry as well as academia, said the defence ministry.
Further, the ministry stressed that the DRDO will showcase the advancements in technologies made by its laboratories as well as its partnerships with the industry, in recent years while representing a high level of indigenousness in advanced and futuristic defence products and technologies that contribute towards Aatmanirbharta in defence.