Defence Minister Rajnath Singh inaugurated Aero India show in Bengaluru amid the coronavirus pandemic.
Highlights
- Government on Wednesday formally sealed a ₹ 48,000-crore deal
- Contract signed for 83 indigenous fighter jets LCA Tejas
- 13th edition of Asia's premier defence exhibition inaugurated today
The government on Wednesday formally sealed a Rs 48,000-crore deal -- the "biggest Make In India defence contract" -- with state-run aerospace giant Hindustan Aeronautics Limited (HAL) at the Aero India show in Bengaluru. The contract for 83 indigenous fighter jets LCA Tejas was signed in presence of defence minister Rajnath Singh who inaugurated the 13th edition of Asia's premier aeronautics and defence exhibition earlier this morning.
"It is probably the biggest 'Make in India' defence contract till date," Mr Singh said at the three-day show, first of its kind to be held in the Covid era. It will focus on showcasing and augmenting India's indigenous defence sector capabilities from the lens of Atmanirbhar Bharat and Make in India campaigns.
"Tejas is not only indigenous it is also better than its foreign equivalents on several parameters and comparatively cheaper. Many countries have shown interest in Tejas," Mr Singh had said a day earlier after inaugurating a new HAL facility to double the production LCA Tejas, which is also on display. He had added that India cannot remain dependent on other countries for its defence.
Stating India's plans to spend "USD 130 billion on military modernisation in the next seven to eight years", Mr Singh said the sector has also been opened for foreign sector participation.
"The Government of India has enhanced foreign direct investment in defence by up to 74 per cent through the automatic route and 100 per cent through the government route," he added.
He also spoke about steps taken by the centre to further "domestic manufacturing of bigger and complex defence platforms".
During the event, the Defence Minister will also release the DRDO export compendium, a document on new procedure for Design, Development and Production of Military Aircraft and Airborne Stores and other documents with a view to push foreign defence companies to not only make their products in India, but also consider her offerings.
As many as 601 exhibitors - 523 Indian and 78 foreign - and 14 countries have confirmed participation in the air show where the DRDO (Defence Research and Development Organisation) will exhibit its latest defence technologies and demonstrate systems.