Also, some Statistics
Opresent and another 108 were in ‘virtual mode’. Around 3,000 Business2-Business meetings were conducted and representatives from 63 foreign countries were in attendance. Some 201 MoUs, product launches and technology transfers were formalised at the Bandhan ceremony held on last day of Aero India 2021 on 5 February 2021. These included the formal handing over of Advanced Light Helicopter Mk.IIIs to the Indian Navy and Indian Coast Guard (ICG), commencement of performance-based logistics of the ICG fleet, initial operational clearance of Army version of Light Utility Helicopter and others.
In his address, Defence Minister Rajnath had said that “Bandhan partnership in defence and aerospace sectors having forged strategic ties that are poised to transform defence and aerospace manufacturing”. He said that 128 MoUs, 19 ToTs, 4 Handing Overs, 18 Product Launches and 32 major announcements were recorded at Aero India 2021.
Mr Rajnath Singh reiterated India’s intention to bring down defence imports by at least $2 billion by 2022 to encourage local defence manufacturing. Highlighting the importance of a requisite eco-system for growth of the defence industry, he said that Rs 6,800 crore investments were pledged by both public and private industries in the defence corridors of Uttar Pradesh and Tamil Nadu. However, the Indian Defence Minister reiterated that ‘self-reliance’ did not mean isolation from the world or to act as a closed economy but actually to promote globalisation by making India a more competitive player on the global stage and inviting the global companies.
Mr Rajnath Singh reiterated the target for increasing the country’s defence base from $11 billion to $25 from Rs 2000 to Rs 9000 crores over 2015-2020, mostly spearheaded by the private sector. With reference to the Indian aerospace industry he said that the aero components sector is set to grow from Rs. 30,000 crores today to Rs. 60,000 crores by 2024. India’s manpower resources, availability of abundant, specialist capabilities and geographical advantages as the reasons for its emergence as a global and regional Maintenance and Repair Operations (MRO) hub.
In his valedictory remarks, made on-line, the President of India Mr. Ram Nath Kovind stated that “Aero India 2021 is a living proof of India’s evergrowing strength in the defence and aerospace sectors at the global level”. Referring to the Conclave of Defence on the theme of ‘Enhanced Peace, Security, and Co-operation in the Indian Ocean’, which was organised on the margins of Aero India 2021, the President said that India has always been an ardent advocate of universal peace and development. “It is important that IOR nations focus on fostering political, economic, cultural and defence co-operation”, he added. Conclave was attended by ministers and delegates from 26 countries.