DefExpo-22: Over 400 MoUs Are To Be Signed & 1300 Companies To Participate

Over 400 Memorandum of Understanding (MoUs) are expected to be signed during the Defence Expo 2022, with 33 related to Gujarat and totalling Rs 5,500 crore, according to defence secretary Ajay Kumar.

In one of the largest defence expos in the world, over 1,300 exhibitors, including start-ups from PSUs and private industry will display products at the DefExpo in Gandhinagar, which begins on 18 and will end on 22 October.

Expo targeting bolstering the central government's policy of bringing in “atmanirbharta” (self-reliance) in the military sector.

Speaking to the media ahead of the expo in Gandhinagar, Ajay Kumar revealed that over 400 MoUs will be signed this time, which is double the 201 signed at the previous DefExpo in Lucknow.

He also said that twelve states have developed their own programmes to attract firms. So far, two defence corridors have been established in Uttar Pradesh and Tamil Nadu to realise the potential of the defence sector, which is also reflected in the market performance of linked companies.

The government will conduct two conclaves during DefExpo, one for the Indian Ocean region and one for African nations. With China in mind, the defence ministry is hosting an Indian Ocean Region plus conclave and has invited 28 countries' defence ministers to showcase India's enhanced indigenous capacity development and deliberate on making the area safe and peaceful for trade and prosperity, according to Special Secretary Defence Sanjay Jaju.

With Africa being a big defence market, India is attempting to engage the continent through the DefExpo conference. There will be a special session for the first time on how to promote larger funding in the defence industry, defence secretary Kumar explained, adding that there is no shortage of government finances. According to him, the defence budget has increased by 35 per cent in the last three years due to increased military requirements.

Meanwhile, the Defence Research and Development Organization (DRDO) will exhibit 430 goods at the exhibition, including strategic and tactical weapon systems, defence equipment and technology. According to the defence ministry, the key subject for this year's DRDO participation is the 3D (DRDO, Designed and Developed) ecosphere, which will emphasise its strong links with industry and academics.

Further, the ministry said that the DRDO would highlight recent technological advancements made by its laboratories, as well as partnerships with industry while representing a high level of indigenousness in advanced and futuristic defence products and technologies that contribute to “atmanirbharta” in defence.