Adequate funds are available for modernization of armed forces

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Adequate funds are available for modernization of armed forces

Prime Minister Narendra Modi will inaugurate the Defense Expo adorned with strategic equipment on October 19. The scale of the Defense Expo will be much bigger than last time and the government is expected to sign over 400 Memorandum of Understanding (MoU) for investments above Rs 1.25 lakh crore. The officials said this on Friday. Defense Expo (DefExpo 2022) will be held in Gandhinagar from October 18 to 22.

Defense Secretary Dr. Ajay Kumar said, “This 12th edition of Defense Expo will be the largest in the country with the theme ‘Path to Pride’. This will demonstrate our commitment to become self-reliant in defense production. It will be inaugurated by Prime Minister Narendra Modi on October 19.” Kumar said, “The scale of this Defense Expo will be bigger than any previous such event in the country.

So far, 400 MoUs have been finalized for signing during the expo, which will attract an investment of Rs 1.25 lakh crore. This investment commitment and the number of MoUs are double that of the agreements signed at the previous expo. He said companies from Gujarat will sign 33 MoUs, which are expected to invest more than Rs 5,500 crore in the state. He said over 1,320 defense companies will participate in the expo, which is being held in an area of ​​over one lakh square metres.

He said around 1,028 companies had participated in the last Defense Expo, while the current edition will see defense ministers from 25 countries and representatives from 75 countries. Kumar said, “Three things will be the highlights of the expo. The indigenously designed and developed trainer aircraft by HAL will be showcased for the first time at the expo, the newly developed airport at Deesa in Gujarat will be digitally inaugurated and 75 challenges for defense production will be opened up to start-ups and industries.

Additional Secretary (Defence Production) Sanjay Jaju said that the India-Africa Defense Dialogue will be held in the presence of Defense Minister Rajnath Singh with participation of more than 50 African countries. He said that a separate Indian Ocean Region Plus (IOR+) conference will also be held in which representatives of about 40 countries will be present. Asked about China’s participation in the summit, Jaju said Beijing is not a party to IOR Plus.

On the question of funds for modernization of the country’s armed forces, Defense Secretary Kumar said, “Adequate funds are available for modernization of the armed forces.” He said that during the five-day event, the first three days would be for business, while 21 and 22 October will be for members of the general public. The expo could not be held twice, first because of the COVID-19 pandemic and then because of the Russo-Ukraine war. PLC/ GT

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