Prime News, National, Defence, New Delhi, October 25:- Defence Minister Rajnath Singh Monday (October 25) said that the government has taken several initiatives to modernise armed forces and produce high quality and cost-effective weapon systems and platforms.
Chairing the Ambassadors’ Round-Table for DefExpo-2022 in Delhi, Singh stated that the Indian aerospace and defence manufacturing sector is ready to soar to newer heights. He said defence exports have grown by 334 percent in the last five years and now India is exporting to more than 75 countries
He added that the country’s export performance is a strong indicator of the quality and competitiveness of Indian defence products.
The Defence Minister expressed commitment to support growth of defence modernisation and capabilities. He pointed out that defence capital outlay has been increased in the annual budget of 2021-22 by 18.75 percent from the preceding year. This is the highest ever increment in the last 15 years.
Over 90 countries with more than 200 delegates participated in the event today. DefExpo-2022 will be held at Gandhinagar in Gujarat from March 10 to 13 next year. Singh expressed hope that DefExpo-2022 will provide many opportunities to the stakeholders in the aerospace and defence industry.
He emphasised that India is committed to furthering defence business interests through synergistic growth and requested all stakeholders to visit Gujarat. (Inputs: Agencies, NGB)