PM Modi sets USD 5 billion in defence exports by 2024-25

Bar raised from current USD 1.5 billion; Inaugurates Aero India 2023 in Bengaluru
Prime Minister Narendra Modi addresses during the inaugural ceremony of Aero India 2023, in Bengaluru. (Photo | PTI)
Prime Minister Narendra Modi addresses during the inaugural ceremony of Aero India 2023, in Bengaluru. (Photo | PTI)

BENGALURU: As fighter jets, helicopters and various aircraft roared over Bengaluru to mark the inauguration of the five-day Aero India 2023, the biggest airshow in Asia, Prime Minister Narendra Modi set an ambitious target of USD 5 billion in defence exports by 2024-25.  

“The aim is to take defence exports from USD 1.5 billion to USD 5 billion by 2024-25. From here India will take rapid strides to be included among the largest defence manufacturing countries and our private sector and investors will play a big role in that,” the PM said.

In the last five years, India’s defence equipment export has increased six times and reached USD 1.5 billion. The PM termed India as a credible and cost-effective export partner of defence products with the best innovation and honest intent.

Surya Kiran team led by C-17 Globemaster dot the skies on the inaugural day of Aero India 2023 at Yelahanka Air Base in Bengaluru on Monday | Shashidhar Byrappa
Surya Kiran team led by C-17 Globemaster dot the skies on the inaugural day of Aero India 2023 at Yelahanka Air Base in Bengaluru on Monday | Shashidhar Byrappa

In his address after inaugurating the 14th edition of the biennial event, Modi said the sky over Bengaluru is bearing testimony to the capabilities of new India, which is touching new heights and transcending them too. The PM compared India in Amrit Kaal to a fighter jet pilot.

“India of today thinks fast, thinks far and takes quick decisions, and it is not afraid, but excited, to soar to new heights,” he said.

The PM said Aero India showcases the scope of the defence industry and the self-confidence of India. New India of the 21st century will neither miss any opportunity nor will it lack in effort, he said and highlighted the reforms taken up to ensure ease of doing business, strengthen the industry and woo the investors.

Deploy tech expertise: PM Modi to youth

Modi said the nation, which once used to be among the largest importers of defence equipment for decades, is now exporting defence equipment to 75 countries. The perception towards Aero India, which used to be just a show and a window to sell to India, has now changed, he said.

“Tejas, INS Vikrant, advanced manufacturing facilities in Surat and Tumakuru are the potential of Atmanirbhar Bharat and India’s successes are bearing witness to its capabilities,” he said.

US Air Force’s F-35A Lighting II at the Aero
India show at Yelahanka Air Force base in
Bengaluru on Monday | Vinod Kumar T

He invited the private sector to invest in the defence sector in India as that would create new opportunities for them in India and abroad as the industry’s growth is natural when there is demand, expertise and experience.

The Prime Minister and delegates from 98 countries participating in the biggest-ever show in Bengaluru witnessed a spectacular flight display.

The PM said Aero India is taking place in Karnataka which is the hub of India’s technological advancement and it will open new avenues for the youth of Karnataka in the aviation sector. He appealed to the youth to deploy their technological expertise in the defence sector to strengthen the country.

US F-35A’S Maiden flight today 

The United States Air Force (USAF) is expected to fly its latest state-of-the-art fifth-generation stealth fighter, the F-35A Lightning II, at Aero India 2023 on Tuesday. This will be the first time that this all-weather stealth multirole combat aircraft — capable of carrying out air superiority and strike missions — will fly at an Indian airshow. 

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