Aero India 2021: Rajnath Singh reveals India’s $130 billion plan on military modernisation

India is vigilant in the face of attempts to change the status quo at its border and prepared to counter any misadventures to protect its territorial integrity, Defence Minister Rajnath Singh said on Wednesday, in the wake of continued military standoff against China.

“We have long witnessed unfortunate attempts to employ force to change the status quo at our unresolved borders” he said at the inaugural ceremony of Aero India-2021, the country’s leading defense and aerospace show, at Yelahanka Air Force Station.

“India is vigilant and prepared to counter and defeat any misadventures to defend our people and territorial integrity at all costs,” the Minister asserted.

China and India are locked in a military standoff in eastern Ladakh since May 5. The two countries have held multiple rounds of diplomatic and military talks to settle the conflict, but so far no substantial progress has been made.

Dubbed as Asia’s largest military aviation show, the three-day Aero India event began in the midst of the COVID-19 pandemic with buzz around “Aatma-Nirbhar Bharat” (India self-reliant) and “Make in India” push.

The 13th edition of the biennial international event is said to be the world’s first hybrid aerospace show, incorporating both a physical and a virtual exhibition.

Singh also said that India plans to invest USD 130 billion on defense modernization over the next 7-8 years with an emphasis on domestic development of larger and more complex platforms.

Since 2014, the Government has introduced a number of reforms in the defense sector to create a conducive export ecosystem, foreign direct investment and offset discharge, he said.

In order to achieve the twin objectives of self-reliance and exports, the government has set a target of achieving a turnover of Rs 1,75,000 crore in the field of Defense manufacturing, including exports of Rs 35,000 crore in aerospace and defense products and services, by 2024, Singh said.

“We plan to spend USD 130 billion on Defence modernisation in the next 7-8 years”, he added.

Like most of its friendly countries, India also faces threats and challenges arising from various fronts, the Defense Minister said, adding that the country was a “victim of state-sponsored and state-inflicted terrorism which is now a global threat”

The Government has recently taken several measures to improve the country’s security apparatus.

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Domestic production of larger and more complex defense platforms has now become the focus of our strategy under the ‘Aatma-Nirbhar Bharat Abhiyaan,’ he added.

Singh said that about 540 exhibitors, including 80 foreign companies, Defense Ministers, delegates, service chiefs and officials from more than 55 countries, are taking part in the Aero India event.

“It reflects the growing optimism of the global community”, he said.

Singh also expressed his gratitude to the Defense Ministers from Maldives, Ukraine, Equatorial Guinea, Iran, the Comoros and Madagascar who attended the event in person, and to many others who are joining digitally.

Noting that India now offers a unique opportunity for defense and aerospace manufacturing, he said, this opportunity comes as a ‘Sangam’ of growing demand, greater innovation, favorable policies and a mature ecosystem in the defense and aerospace manufacturing sector.

Over recent years, the Government has supported the establishment of a wide range of production facilities of various defense equipment through Defense Public Sector Undertakings and Ordnance Factories, he added.

Asserting that India is one of the fastest growing civil aviation markets in the world, the Defense Minister said that with increasing passenger and freight traffic, the demand for airplanes and associated production lines is increasing as well.

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“India therefore holds a huge potential for investments in the aerospace sector, particularly in manufacturing of aero engines and sub-assemblies as well as in Maintenance Repair & Overhaul, of Aircraft,” he said.

Singh has invited business executives from all over the world to take advantage of the numerous government initiatives and the establishment of manufacturing units in the country.

With the emphasis on promoting exports of defense products from India, India is slowly shifting from Make in India to Make for the World, Singh said.

A high-level committee has been set up to approve exports of major indigenous platforms to different countries, leading to quicker approvals, he said.

“Our vision is to make India one of the biggest countries of the world in the Defence sector, from design to production, with active participation of public and private sectors”, he added.

Noting that India has a vast coastline, and its interests lay beyond the shores, Singh said that it included people living and working across continents, especially in the Indian Ocean region.

It was the government’s bounden duty to remain capable and willing to assist them in times of natural calamities and security challenges, he added.

Indian Ocean Region Defence Ministers Conclave, themed on “Enhanced peace, Security and cooperation in the Indian Ocean Region” is being held during the Aero India.