The Ministry of Defence has announced numerous reforms for an Aatmanirbhar Bharat

The 13th edition of Aero-India 2021 will showcase the government’s intent to achieve self-reliance in the defense sector and a turnover of USD 25 billion by 2025, said the Union Defence Minister Rajnath Singh.

Speaking at the Ambassadors’ Round Table Virtual conference on Aero India 2021 on Wednesday, the Defence Minister said, “Aero India-21 will showcase the Government’s intent to achieve a turnover of USD 25 billion with exports of USD 5 billion in aerospace and defence goods and services by 2025.”

He further noted that in compliance with Aatmanirbhar Bharat mission of the central government, the defence ministry has announced numerous government reforms such as an increase in FDI to 74 percent through the automatic route, the Defense Acquisition Procedure -2020, revised Offset guidelines to promote Investment in India for co-development and co-production as also formulated the draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020) during the preceding pandemic months to steer the vision as also for ease of business.

“Aatmanirbhar Bharat' or Self Reliant India was the centerpiece of Prime Minister Shri @narendramodi ’s Independence Day address. There are numerous government reforms that have been announced for ease of business: RM,” the Defense Ministry office tweeted.

Singh pointed out that the defence ministry reforms will provide an opportunity for leading companies worldwide to partner with Indian companies.

“This would provide an excellent opportunity for leading companies worldwide to enter into partnerships with established Indian companies for repair, overhaul, maintenance, and other services,” he said.

The Defence Minister expressed confidence that Aero India-21 will demonstrate India’s ability to take the lead and further build on our strengths in the post COVID world. He said that a draft Defence Production and Export Promotion Policy 2020 has been formulated by the ministry.

He also urged the Ambassadors to impress upon their leadership and Industry captains of their respective countries and defense industries to participate in Aero India-21 in a big way to “dive deep into the strategic and business opportunities available in India with the aim of establishing strategic partnerships”.

The event was attended by over 200 invitees comprising Ambassadors, Heads of Missions, and Defence Attaches of over 75 countries.

The Aero-India 2021 will be held at Air Force Station, Yelahanka, Bengaluru, Karnataka from Feb 2-7th 2021.

Chief Minister of Karnataka BS Yediyurappa also addressed the event and assured that the Government of Karnataka would make all necessary preparations for the safe conduct of the Aero India-21 in February 2021 at Bengaluru keeping in mind the safety of the participants and in compliance with the COVID-19 protocols.