DefExpo 2022

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    • Recently, the Minister of Defence chaired the Ambassadors’ Round Table for DefExpo 2022, in New Delhi. 
      • The Round Table was aimed to brief the Ambassadors of foreign missions about the planning, arrangements and other details of DefExpo 2022.

    DefExpo 2022

    • About:
      • It is a flagship biennial event of the Ministry of Defence, Government of India.
      • It will be held in Gandhinagar, Gujarat between March 10-13, 2022.
    • Aims and objectives:
      • To achieve self-reliance in defence & increase exports.
      • To make India a major destination of land, naval, air & homeland security systems and defence engineering.
      • To build upon the vision to achieve ‘Atma Nirbharta’ in defence and reach USD five billion defence exports target by 2024. 
      • It will bring all the latest technologies under one roof and provide a myriad of opportunities to the stakeholders in the aerospace & defence industry.
    • Achievements: 
      • Defence exports have grown by 334% in the last five years and now India is exporting to more than 75 countries
      • In February 2021, India was the first country to conduct a hybrid aerospace exhibition, Aero India-2021 at Bengaluru, in compliance with strict COVID-19 protocols. 
        • The event, under the aegis of the Department of Defence Production, Ministry of Defence, had witnessed tremendous global response.

    Other initiatives 

    •  The government increased defence capital outlay in the annual budget of 2021-22 by 18.75 % from the preceding year, which is the highest ever increment in the last 15 years. 
    • Other policy reforms include: 
      • Simplifying the industrial licensing process
      • Allowing 74% Foreign Direct Investment through automatic route and 100% with Government approvals for Critical technologies
      • Introduction of Open General Export License policy
      • Positive indigenisation lists of 209 items
      • Launch of seven new Defence companies and opening up of testing & trial facilities for the private sector etc. 

    Source: PIB