Aspirations and abilities of India are being well-portrayed said PM
Lucknow: Prime Minister Narendra Modi on Wednesday said two grand defence manufacturing corridors were being built in UP and Tamil Nadu to help the defence sector as well as other smaller businesses in the regions.
“Two grand defence corridors are being built today here in India. One is in TN, while the second is being built in UP. This will not only help the defence sector but other smaller businesses in the regions as well,” said PM here at the Defence Expo 2020. Stressing on India’s future plan to strengthen defence sector, he said at least 25 products associated with artificial intelligence in the defence sector will be developed in next 5 years.
He said aspirations and abilities of 21st century India are being well-portrayed at this Expo. PM said India is targetting to export defence of Rs 35,00 crore in next five years.
“In 2014, the export of defence of India was about Rs 2000 crore. In the last 2 years, India has exported defence worth Rs 17,000 crore. In the next 5 years, we’re targeting to take the number to Rs 35,000 crore,” he said. “Till 2014, only 217 defence licenses were issued. In the last 5 years, this number has grown to 460,” PM added.
He asserted that India is building several defence types of equipment like artillery guns, aircraft carriers, submarines, light-combat aircraft, and combat helicopters. “People who understand economy and defence know that India is not just a market, but a huge opportunity as well,” he said.