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Aero India will be gateway to invest in defence sector: Rajnath

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India less affected by global economic slowdown: RajnathBengaluru, Oct 7 (IANS) Union Defence Minister Rajnath Singh said on Wednesday that the 13th Aero India would help India rank among the top five countries of the world in defence and aerospace industries with active participation of the public and private sectors.

Speaking at the round table virtual conference on Aero India here, Singh said the country needs to strengthen the defence system for peace.

“Aero India 2021 aims to make India self-reliant in defence production as the country houses one of the largest defence manufacturing sectors. Due to the latest defence policies, we have enabled aerospace industries from design to production,” he explained.

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He further added that Aero India is one of the major exhibitions for aerospace and defence industries.

The Defence Minister said that the country has a large pool of technically qualified human resources for developing defence manufacturing hubs.

“With Aero India 2021, the Central government intends to make India one of the five leading countries in the aircraft and spacecraft industry. Besides, the Aero India show can also be utilised for government-to-government discussions,” Singh said.

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Apart from this, the defence industry and research organisations can also exploit the opportunities by participating in the event, he said.

Singh claimed that numerous government reform measures such as increasing FDI to 74 per cent through automatic routes in the defence sector could prove to be a step forward in achieving the goals.

–IANS

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