201 MoUs, product launches and technology transfers concluded at Aero India 2021

Subscribe to YouTube Channel

Subscribe to Mojo4Industry YouTube Channel and get Latest Industry Updates. Do press Bell Icon to get automated notifications whenever new video is uploaded.

Must Read

Will indirectly help boost the housing demand: NAREDCO Maharashtra

Will indirectly help boost the housing demand: NAREDCO Maharashtra The Government has put their best efforts to put the economy...

201 MoUs, product launches and technology transfers concluded at Aero India 2021

201 MoUs, product launches and technology transfers concluded at Aero India 2021 A total of 201 MoUs, product launches and...

Emerson launches new Variable Speed Scroll Compressor Solution for Commercial AC

Emerson launches new Variable Speed Scroll Compressor Solution for Commercial ACEmerson announces the launch of its new Copeland 110cc...

201 MoUs, product launches and technology transfers concluded at Aero India 2021

A total of 201 MoUs, product launches and technology transfers were concluded at the Aero India 2021 held in Bengaluru. Defence Minister Rajnath Singh informed that 128 MoUs, 19 technology transfers, 4 handing overs, 18 product launches and 32 major announcements were made at Aero India this year. These included the formal handing over of the Advanced Light Helicopters MK-III to the Indian Navy and Indian Coast Guard (ICG), commencement of Performance based logistics of ICG fleet, initial operational clearance of Army version of Light Utility Helicopter etc.

The Minister reiterated India’s intention to bring down defence imports by at least $2 billion by 2022 to encourage local defence manufacturing. He informed that 138 proposals worth over $37 billion for domestic manufacturing were approved between 2016 and 2019. Highlighting the importance of the requisite eco-system for the growth of the defence industry, he said Rs 6,800 crore investments were pledged by both public and private industries in the defence corridors of Uttar Pradesh and Tamil Nadu.

Mr Singh also spoke of the need for a robust domestic manufacturing base for defence export potential of the country. He reiterated the target of increasing the country’s defence base from $11 billion to $25 billion by 2025 including an export component of $5 billion. Defence exports grew from Rs 2,000 crore to Rs 9,000 crore from 2015-2020 with a vast majority 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 crore today to Rs. 60,000 crore by 2024. He enumerated the cost competitiveness of India’s manpower resources, availability of abundant, specialist capabilities and geographical advantages as reasons for its emergence as a global and regional Maintenance and Repair Operations hub.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

is banner
- Advertisement -
our advertiser v2

Tech Talks

00:06:46

CII EXCON 2021 | Day 4 | Highlights

CII EXCON 2021 | Day 4 | Highlights The 11th edition of CII EXCON, South Asia’s largest construction equipment trade...
- Advertisement -
print v2

More Stories on mojo4industry