Bengaluru: Prime Minister Narendra Modi has said there is need to improve India’s defence preparedness. Inaugurating the 10th edition of Aero India in Bengaluru today the Prime Minister laid emphasis on enlarging defence manufacturing base in India and procuring state of the art defence equipment from within India. He stressed that this will not only bring prosperity, safety and stability to the country but also generate employment.
The Prime Minister added that India needs to absorb state of the art technology by manufacturing them within the country. For this he said Government will provide level playing field to private and public sector as also to the foreign companies in defence sector. Mr. Modi said Aero India is just not a trade fair but a platform to launch Indian defence manufacturing sector that is expected to generate one lakh 20 thousand jobs in the next five years. He assured investors of simplifying Defence Procurement policy and take immediate decisions on FDI and FIIs in defence manufacturing.
The five-day biennial air show and exhibition has attracted 250 top Indian companies and 300 companies from across the world. The exhibition would see participation by over 600 companies, including 295 Indian and 328 foreign companies. Karnataka governor Vajubhai Vala, Chief Minister Siddaramaiah, Defence Minister Manohar Parikkar, MoSD Rao Inderjeet Singh, other Union Ministers Ashok Gajapathi Raju, H N Ananth Kumar and Sadananda Gowda were present on this occasion.