|  |  | 

India Top Headlines

Narendra Modi: Our goal is $ 5 billion of export defense in the next five years | India Business News


LUCKNOW: India is looking at defense exports of $ 5 billion over the next five years, Prime Minister Narendra Modi said Wednesday, highlighting the steps taken by his government to boost manufacturing and attract investors to establish a base in the country.
Opening the 11th edition of DefExpo here, PM Modi said that a country the size of India cannot completely depend on imports and added that the number of defense licenses issued in the last five years increased to 460 from 210 in 2014 , the year it first came. turn on.
India is building several defense equipment such as artillery guns, aircraft carriers, submarines, light combat aircraft and combat helicopters, he said.
“Our mantra is Make in India, for India, for the world. In 2014, the export of defense equipment from India was around Rs 2,000 million. In the last 2 years it has increased to Rs 17,000 million. The next five years, our goal is an export of $ 5 billion, which is around Rs 35,000 crore, “said the Prime Minister.
India is not only an important market worldwide, but also a great opportunity for the world, he said, and said that Uttar Pradesh will be one of the largest defense manufacturing centers in India.
The lack of an adequate political initiative in recent decades made India the largest importer of defense platforms, he added.
Modi cited the misuse of technology, terrorism and the cyber threat as challenges facing the world and said defense forces are considering new technologies considering new threats. India is not behind the others, he added.
He said a roadmap for using the artificial intelligence application in the defense sector had been finalized.
The Prime Minister said that the creation of the post of Chief of Defense Staff and the department of military affairs will increase overall defense production.
“We are going to improve our presence in outer space in the coming years,” he said, adding that the DRDO is putting effective protection for India’s assets in outer space created by ISRO.
“Our preparation for defense is not aimed at any country, since India is a reliable contributor to world peace. It is our responsibility to ensure the security not only of India but also of neighboring countries,” he said.
He invited foreign defense manufacturers to “come and invest in India.”
On video: PM Narendra Modi opens Defense Expo 2020 in Lucknow: full speech

Original source