MoUs Worth Rs 1.53 Crore Signed at DefExpo 2022

| Updated: October 21, 2022 1:23 pm

Breaking all previous records, as many as 451 memorandums of understanding (MoUs) and contracts worth Rs 1.53 lakh crore were signed at the DefExpo 2022 in Gandhinagar. In the last Defense Expo 2020 held in Lucknow, 201 MoUs were signed. The 12th outing of the event, DefExpo 2022 was organised at the Mahatma Mandir convention centre.

Defence Secretary Ajay Kumar said that MoUs and agreements were signed between industries, between the industry and the state government as well as between the industry and the central government.

Speaking on the occasion, Defence minister Rajnath Singh said that the 12th DefExpo was the most successful expo ever and had managed to usher in an era of empowerment for the Indian defence sector. “This is the beginning of self-reliance in the Indian defence sector. This expo has shown that the future belongs to India and that India will become a global defence manufacturing hub,” he said.

Singh described exports as a key pillar for the long-term sustainability of the domestic defence industry. He said that the government has set a target of achieving defence exports of USD 5 billion and a total business of USD 22 billion in defence production by 2025. He expressed optimism that in the next 25 years, India will emerge as the world’s defence manufacturing hub.

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