BENGALURU: Defence ministers’ conclave ‘Shared Prosperity through Enhanced Engagements in Defence’ (SPEED) will be held in Bengaluru on February 14 on the sidelines of Aero India 2023. Defence Minister Rajnath Singh will host the conclave that will be attended by defence ministers of friendly countries to discuss various aspects related to deepening cooperation for capacity building through investments, R&D, joint venture, co-development, co-production and provisioning of defence equipment, training, space, AI and maritime security.
The conclave is an opportunity for defence ministers of all friendly countries and India to engage with each other to carry forward Prime Minister Narendra Modi’s vision of ‘Make in India, Make for the World’ for a secure and prosperous future, said a statement issued by the Ministry of Defence.
Modi has launched a campaign for ‘Aatmanirbhar Bharat’ in the defence sector which is aimed towards increasing indigenous defence manufacturing and production capability to develop a self-sufficient defence ecosystem, involving like-minded nations in developing a reliable supply chain free of exploitation and disruptions by certain players; and provide affordable and robust defence equipment to friendly countries, the statement said.
The Indian defence sector has shown promising growth despite the disruptions caused by the Covid-19 pandemic. India is shifting its focus towards defence innovation and technology incorporation to design and develop weapon systems of the future. While the domestic requirements are large enough to sustain the indigenous industry, India would like to partner with friendly countries to take the defence production to next level and share the benefits to ensure shared prosperity, the statement read.