Indian defense exports are expected to reach $5 billion by 2024–2025, according to Prime Minister Narendra Modi, who also predicted that India will soon become the world’s largest defense manufacturing base. The 14th edition of Asia’s largest air show, Aero India 2023, was officially opened when the Prime Minister made his remarks.
“Our goal is to raise defense exports to $5 billion by 2024–25,” said Prime Minister Modi. The largest defense manufacturing base in the world will soon be in India. He added that India is a developing global powerhouse and a prospective defense partner in addition to being a market for international defense firms.
The Prime Minister further stated that the new India would not miss any opportunities or fall behind in effort. “New India of the 21st century will now neither lose any opportunities nor fall behind in hard effort,” the prime minister declared. We’re all set. We are starting a revolution in every industry as we move towards changes. The nation that for years was the largest importer of defense products now exports to 75 nations.
At the five-day Aero India 2023 trade expo being held at Air Force Station Yelahanka in Bengaluru, 809 exhibitors, including MSMEs, startups, and 110 foreign exhibitors, confirmed their attendance. There will be participation from 32 defense ministers, 29 air chiefs, and 73 CEOs of international and Indian defense OEMs.
A huge exhibition and trade fair for aerospace and defense firms will be held in conjunction with aerial displays of aircraft and helicopters. At the event, there are a number of significant exhibitors, including BrahMos Aerospace, Army Aviation, Larsen & Toubro, Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BHEL), BEML Limited, Bharat Dynamics Limited (BDL), Rolls Royce, Dassault Aviation, Airbus, Boeing, Lockheed Martin, Israel Aerospace Industry, and SAAB.