Aero India 2023: Rajnath to chair aerospace, defence industries CEOs round table

  • IANS
  • Stock Market News
Aero India 2023: Rajnath to chair aerospace, defence industries CEOs round table

Bengaluru, Feb 8 (IANS) The Defence Ministry will organise a 'CEOs Round Table' on February 13, the inaugural day of Aero India 2023, under the chairmanship of Defence Minister Rajnath Singh, an official statement said on Wednesday.

The platform, with theme "Sky is not the limit: Opportunities beyond boundaries", is expected to lay the foundation of a more robust interaction between the industry partners and government with an eye on bolstering the Make in India campaign, a Ministry statement said.

It is further expected to increase 'Ease of doing business' in India and also provide a favorable platform to OEMs for manufacturing in India.

The Round Table will see participation from officials,delegates and global CEOs from 26 countries including global investors such as Boeing (NYSE: BA ), Lockheed, Israel Aerospace Industries, General Atomics, Liebherr Group, Raytheon (NYSE: RTN ) Technologies, Safran (EPA: SAF ), and General Authority of Military Industries (GAMI).

Domestic PSUs like Hindustan Aeronautics Ltd (NS: HIAE ) (HAL), Bharat Electronics (NS: BAJE ) Ltd (BEL), Bharat Dynamics (NS: BARA ) Ltd (BDL), BEML (NS: BEML ), MishraDhatu Nigam Ltd will also participate.

Premier defence and aerospace manufacturing companies from India such as Larsen & Toubro, Bharat Forge (NS: BFRG ), Dynamatic Technologies (NS: DYNM ), and BrahMos Aerosapceare also likely to be part of the event.

This would engage industries for co-development and co-production to make India a commercial manufacturing hub and base for global product support. It will explore Indian and Global markets; create opportunities for industries to not just 'Make in India', but 'Make in India' for the world.

India has emerged as one of the fastest growing economies globally,providing the world with a thriving and stable environment for investments and trade.

India has the 3rd largest military in the world and the government plans to spend $130 billion for fleet modernisation over the next 5-7 years. A series of policy initiatives such as de-licensing, deregulation, and positive indigenisation lists for import substitution, export promotion, FDI liberalisation and establishment of Defence Industrial Corridors amongst others have been taken by the government to boost "Self-reliance" in the Indian defence manufacturing eco-system.

A premier exhibition in the global aviation industry, Aero India, is held biennially at the Air Force Station, Yelahanka in a total area of around 35,000 sqm. This year marks the 14th edition of the exhibition since its inception in 1996 and provides a unique opportunity to the industry to showcase its capabilities, products, and services.

In this edition of Aero show, a total 731 exhibitors have participated across the world.

The five-day event will be inaugurated by Prime Minister Narendra Modi and will include aerial displays by aircraft along with a large exhibition and trade fair of aerospace companies.

--IANS

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