BENGALURU: Prime Minister Narendra Modi on Monday said that India's defence exports have crossed Rs 12,500 crores. He also said that the aim is to take it to Rs 40,000 crores in 2024-25. Modi was inaugurating the Aero India 2023 exhibition at Yelahanka Air Force Station. He added that the country is expected to sign an investment deal of 75,000 crores with defense firms from various countries.
"We're ready. On the path to reforms, we're bringing a revolution in every sector. The country which was the biggest defence importer for decades now exports defence equipment to 75 countries," said PM Modi at the Aero India 2023 event.
"Tejas fighter planes, indigenously developed INS Vikrant as well as the Helicopter factory in Tumakuru are examples of Make In India's strength. India of the 21st century will neither lose out on any opportunity nor will shy away from working hard to achieve its dreams," he said.
"World's largest helicopter manufacturing centres are coming up in Tumkur in Karnataka and Surat in Gujarat. Foreign investment also increased in sectors, including defence, with the simplification of procedures for setting up industries," he added.
Defence Minister Rajnath Singh, Karnataka Governor Thawar Chand Gehlot, Chief Minister Basavaraj Bommai, Civil Aviation Minister Jyotiraditya Scindia and Minister of State for Defence Ajit Bhatt were also present.
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