Aero India - 2023
Rajnath Singh, the defense minister met with CEOs of international original equipment manufacturers (OEMs) on February 14, on the sidelines of Aero India-2023 in Bengaluru.
Singh invited international OEMs to the meeting to co-create, co-produce, integrate, and improve supply chains, create joint ventures, establish manufacturing in India, and make for the world. The CEOs and senior management of General Atomics, Safran, Boeing, Embraer, and Rafael Advanced Defence Systems were present during the conference.
During the conversation, Singh emphasized that India provides the global defense industry substantial benefits in terms of affordable land costs, trained labor, a thriving start-up ecosystem, and a sizable local defense market. In a statement highlighting the value of the defense industry to India, Singh noted that “defense production serves the twin goals of being self-reliant in a crucial area and providing jobs for our people.”
The central government’s policies supporting FDI and defense manufacturing in India, the strong legal system guarding the interests of stakeholders, and advancements in the ease of doing business were also mentioned. He also mentioned the incentives provided by the state governments of Uttar Pradesh and Tamil Nadu for investment in defense industrial corridors.
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“There are opportunities to co-develop, co-produce, integrate and strengthen supply chains, from joint ventures, set up manufacturing in India and make for the world,” he said, according to a Defence Ministry release.
