‘Raksha Mantri to host Defence Ministers Conclave -‘SPEED’ at Aero India 2023

The conclave will comprise defence ministers of foreign-friendly countries who would also be attending Aero India 2023. The conclave would address aspects related to deepening cooperation for capacity building (through investments, R&D, joint venture, co-development, co-production and provisioning of defence equipment), training, space, AI and maritime security to grow together with the broad theme ‘Shared Prosperity through Enhanced Engagements in Defence (SPEED).The conclave is an opportunity for defence ministers of all foreign-friendly countries and India to engage with each other to carry forward the Hon’ble Prime Minister’s vision of ‘Make in India, Make for the World’ for a secure and prosperous future for generations to come.

Prime Minister Narendra Modi has launched a campaign for ‘Aatmanirbhar Bharat’ (self-reliant India), in the defence sector which is aimed towards:
• Increasing indigenous defence manufacturing and production capability to develop a self-sufficient defence ecosystem;
• Involving likeminded nations in developing a reliable supply chain free of exploitation and disruptions by certain players; and
• Provide affordable and robust defence equipment to friendly countries.
The Indian defence sector has shown promising growth despite the disruptions caused by the COVID-19 pandemic. India is shifting its focus towards defence innovation and technology incorporation to design and develop future weapon systems. While the domestic requirements are large enough to sustain the indigenous industry, India would like to partner with friendly countries to take the defence production to the next level and share the benefits to ensure shared prosperity. The growth in the aviation sector has been impressive and other sectors are also poised well for massive expansion. The aerospace market is expanding in India with the exponential rise in demand for military equipment by defence forces. The aerospace industry is also gearing up majorly to cater to the demand of aircraft (fixed and rotary wings), UAVs and communication systems. The opportunities in aerospace for the Indian industries will enhance with favourable defence policies with the other countries by creating an ecosystem in India. Satellite-enabled technologies such as information technology, Artificial Intelligence (AI), chip manufacturing and communication technology are areas where the massive scope for jointness exists.

Disclaimer: Above is the press release issued by Press Information Bureau (Defence Wing)