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INDIA

India to Spend $130 Billion on Military Modernisation, Says Rajnath Singh

By News Desk

February 03, 2021

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

”We have long witnessed unfortunate attempts to employforce to change the status quo at our unresolved borders”, he said at the inaugural ceremony of Aero India-2021, thecountry’s premier Defence and aerospace show, at Yelahanka Air Force Station here.

”India is vigilant and prepared to counter and defeat anymisadventures to defend our people and territorial integrityat all costs,” the Minister asserted.

China and India are locked in a military standoff in eastern Ladakh since May 5 last. The two countries have heldseveral rounds of military and diplomatic talks to resolve theface-off, but no significant headway has been made so far.

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

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

Singh also said India plans to spend USD 130 billion on Defence modernisation in the next 7-8 years with the focus ondomestic manufacturing of bigger and complex platforms.

The government has since 2014 brought in many reforms inthe defence sector to create a conducive ecosystem forexports, Foreign Direct Investment and offset discharge, henoted.

To achieve the twin goals of self-reliance and exports,the government has set a target to achieve a turnover of Rs1,75,000 crore in the field of Defence manufacturing,including export of Rs 35,000 crore in Aerospace and Defencegoods and services, by 2024, Singh said.

”We plan to spend USD 130 billion on Defencemodernisation in the next seven to eight years”, he added.

Like many of its friendly countries, India also facesthreats and challenges emanating from multiple fronts, theDefence Minister said, adding, the country was a ”victim ofstate-sponsored and state-inflicted terrorism which is now aglobal threat”.

The government has taken several steps to strengthen thecountry’s security apparatus recently.

Domestic manufacturing of bigger and complex defenceplatforms has now become the focus of our policy under the’Aatma-Nirbhar Bharat Abhiyaan’, he said.

Singh said he has been informed that about 540exhibitors, including 80 foreign companies, Defence Ministers, Delegates, Service chiefs and officials from more than 55nations are participating in the Aero India event.

”It reflects the growing optimism of the globalcommunity”, he said.

Singh also expressed gratitude to the Defence Ministersfrom Maldives, Ukraine, Equatorial Guinea, Iran, Comoros andMadagascar who have attended this show in person, and manyothers who are joining virtually.

Noting that India today offers a unique opportunity indefence and aerospace manufacturing, he said, this opportunity comes as a ‘Sangam’ of rising demand, greater innovation, conducive policies and maturing ecosystem in defence and aerospace manufacturing sector.

Over the years, the government has facilitated the establishment of wide-ranging production facilities, of various defence equipment through Defence Public SectorUndertakings and Ordnance Factories, he added.

Pointing out that India is one of the fastest growingcivil aviation markets in the world, the Defence Ministersaid, with rising passenger and cargo traffic, demand for aircraft and the related supply chains are increasing.