With the NDA Government keen to make Indian defence industry export oriented, the forthcoming international defence exhibition Def Expo 2018 to be held in Chennai next week will focus on showcasing the country as the manufacturing hub for sophisticated weapons and allied systems.
The international exhibition held every two years by the defence Ministry since 1999 will be for four days starting April 11. Prime Minister Narendra Modi will formally inaugurate the event on April 12 where a total of 677 companies including 523 Indian and 154 foreign companies are participating.
Giving details of the forthcoming event, Secretary Defence Production Ajay Kumar said here on Wednesday in an effort to promote small and medium enterprises in the defence sector, the Ministry has given 50 per cent concession to these ventures for booking space at the event.
He admitted that there was a drop of more than ten percent in the participation of foreign conglomerates this time adding a record number of Indian companies were part of the show. Kumar also said China was invited for the event.
On the growth of Indian industry, Kumar said last year weapons worth over Rs 55,000 crores in various categories were manufactured by public and private sector. It will go a long way in boosting India's capabilities to export weapons to friendly countries.
The official's statement about Rs 55,000 crore production comes in the the backdrop of an international report stating that India is the biggest importer of weapons in the world with around 70 per cent of defence imports. Moreover, only last month, Indian army flagged the issue before a Parliamentary panel that 68 per cent of its weaponry is of 'vintage' category.
Meanwhile, the defence production secretary also said the government was aiming to increase the foreign director investment (FDI) cap for high-end technology in defence. However, this proposed policy will be applicable in niche areas like electronic chips where India will take some more years to gain the required capabilities.