Four hundred and fifty-one (451) Memoranda of Understanding, Transfer of Technology (ToT) agreements and product launches took place during the Bandhan ceremony of 12th DefExpo in Gandhinagar, Gujarat on 20 October.
Of the 451, there were 345 MoUs, 42 Major Announcements, 46 Product Launches and 18 ToTs.
During the valedictory function of the 12th edition of DefExpo at the Mahatma Mandir convention centre, Defence Secretary Ajay Kumar informed the audience that it had broken previous records in terms of business generation.
“This was the most outstanding defence expo ever. It saw the highest number of exhibitors, which is in addition to tens of thousands of business visitors. The extent of business this defence expo has generated has surpassed all the previous records,” said Kumar.
Defence Minister Rajnath Singh and Gujarat Governor Acharya Devvrat were among those present on the dais during the function.
“In the last defence expo, which was held in 2020 in Lucknow, 201 MoUs were signed. I am happy to report that today, 451 MoUs and agreements were signed. It involves an estimated amount of Rs 1,53,000 crore,” said Kumar.
MoUs and agreements were signed between “industry and industry, industry and state governments and industry and central government,” he said.
The biggest-ever defence exhibition – DefExpo – 2022 concluded with 451 MoUs, ToT agreements & product launches in Gandhinagar today. It has paved way for investments worth Rs 1.5 lakh crore in defence sector.⁰https://t.co/i2hqA09zCc pic.twitter.com/VztsPmJKC8
— Rajnath Singh (@rajnathsingh) October 20, 2022
The 12th edition of Defence Expo was the best to date and heralded an era of empowerment for the Indian defence sector, said Union minister Rajnath Singh.
Read more: DefExpo 2022: India has made its place in defence sector, says Modi
He added that the government is committed towards the growth of the public and private sector to fulfil the twin objectives of promoting self-reliance and increased defence exports and expressed confidence that the country will achieve the defence export target of Rs 35,000 crore by 2025.
“This is the beginning of self-reliance in the Indian Defence sector. This expo has shown that the future belongs to India. This expo has also shown that India will become a global defence manufacturing hub,” Singh added.
The Defence Minister reiterated that the Government’s efforts to strengthen the defence sector are not aimed at establishing the country’s supremacy.
“India has always considered the whole world as its family and has moved ahead with the spirit of welfare and world peace for all. We believe in safeguarding the individual as well the collective interests of the world together. Our self-reliance efforts are to ensure that the nation and its people remain protected from future threats,” he said.
With additional inputs from PTI.
