Lucknow, (thestates.news)
Aiming to attract foreign investors to India and make products for
India and the world, Prime Minister Narendra Modi on Wednesday announced that
the government has set a target of $5 billion defence exports over the next five
years.
Speaking after inaugurating the 11th edition of Defence Expo in the
capital city of Uttar Pradesh here, Mr Modi accused the previous dispensation
for ignoring defence sector which has led to dependency on import of defence
equipment.
He said a country of the size of India cannot entirely depend on imports and
added that the number of defence licenses issued in 2014 were merely 217 but in
the last five years the number has grown up to 460.
“India is building several defence equipment like artillery guns, aircraft
carriers, submarines, light-combat aircraft, and combat helicopters, the Prime
Minister said.
“Our mantra is Make in India, for India, for world. In 2014 the export of
defence equipment from India was about Rs 2,000 crore. In the last 2 years it
has gone up to Rs 17,000 crore. In the next five years our target is export of
$ 5 billion, which is about Rs 35,000 crore,” Mr Modi added.
The Prime Minister also said that the experts who keep track on defence and
economy know that India is not only a market but also provide vast opportunity
for the world.
Mr Modi also said that Rs 20,000 crore will be invested in India’s two defence
corridors in Uttar Pradesh Defence and Tamil Nadu. “Investment worth of Rs 3700
crore for UP defence corridor and Rs 3100 crore for Tamil Nadu defence corridor
have already received,” he added.
He also asserted that Uttar Pradesh is going to be one of the biggest defence
manufacturing hubs in India.
Lack of proper policy initiative in last several decades made India the biggest
importer of defence platforms, he added.
Citing misuse of technology, terrorism and cyber threats as challenges being
faced by the world, Mr Modi said that the defence forces across the globe are
evolving their technologies considering new threats. “India is also not lagging
behind,” he added.
He said a roadmap had been finalised to use application of artificial
intelligence in defence sector.
On creation of CDS, he said, “The creation of the post of Chief of Defence
Staff and the Department of Military Affairs will boost the overall defence
production,’ he told the gathering.
“We are going to enhance our presence in the outer space in coming years,” he
said, adding that the DRDO is putting up effective protection for India’s
assets in outer space created by ISRO.
“Our defence preparedness is not aimed at any country as India is a reliable
contributor to world peace. It’s our responsibility to ensure security of not
only India but countries in the neighbourhood as well,” he said.
For Indian manufacturers, he said, “The Industry and industry bodies should
create a common platform for development of technology.”
Inviting foreign companies for setting up their manufacturing units in India,
Mr Modi assured them that every rupee invested, will yield return.uni
