PM Modi Inaugurated Asia’s premier air show ‘Aero India’ show at Bengaluru
Asia’s premier air show, “Aero India”, took off Wednesday with global armament majors eyeing the multi-billion dollar Indian defence market, seeking to align with the “Make in India” campaign of the Narendra Modi government.
Inaugurating the show, the Prime Minister Narendra Modi said defence output will double if domestic procurement goes up from 40 percent to 70 percent in next five years.He further added that the developing defence system is at the heart of our Make in India programme.
In India, the defence industry in the government sector alone employs nearly 200,000 workers and thousands of engineers and scientists. They produce an output of nearly 7 billion dollars annually. It also supports a very large pool of small and medium enterprises.
PM said that our defence industry in private sector is still small. But, it already employs thousands of people. This is despite the fact that nearly 60 percent of our defence equipment continues to be imported. And, we are spending tens of billions of dollars on acquisitions from abroad.
If we could raise the percentage of domestic procurement from 40 percent to 70 percent in the next five years, we would double the output in our defence industry. We have raised the permitted level of Foreign Direct Investment to 49 percent. This can go higher, if the project brings state-of-the art technology, Modi added.
Over 300 foreign firms along with 54 ministerial and other high-level delegations from several countries are taking part in this year’s event, said to be the largest ever air show to be hosted so far in India.
The US with 64 companies will have the largest presence at the show in which 33 other countries are taking part. Behind the US is France with 58 companies, UK 48, Russia 41, Israel 25 and Germany 17, organisers said.Seven of the 11 foreign military aircraft on display will be American – two F-15C Eagles, two F-16C Fighting Falcons, one Boeing KC-135 tanker, one C-17 Globemaster III and a P-8A Poseidon maritime surveillance aircraft.
Three Rafale fighters of French giant Dassault- shortlisted for acquisition by the IAF – will fly aerobatics displays. Negotiations over the deal for 126 aircraft are facing rough weather with efforts underway to resolve it.
India’s Light Combat Aircraft “Tejas” will be participating in the formation flight display, Defence Research and Development Organisation officials said.
HAL has said Advanced Light Helicopter – Weapon System Integration (ALH-WSI) Rudra, ALH Skid Utility, LCH and the first series production Light Combat Aircraft (SP1) will be on static display.
With the Modi government seeking to give a greater thrust to its “Make in India” campaign, a Defence manufacturing investors summit and global CEO’s conference, to be chaired by Defence Minister Manohar Parrikar, is also being held.
Organisers are also gearing up for the record turnout during the five day event expecting over three lakh visitors this time, almost double the figure of 2013.
Bengaluru has come under thick security blanket ahead of the Prime Minister’s visit as also the hotels where foreign delegations are staying in large numbers.
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Source:Zeenews
