The five-day biennial show is being hosted at the Yelahanka Air Force Station complex on the outskirts of Bengaluru city and is being attended by 809 defense companies, 100 of them foreign, and delegates from more than 80 countries.
Aero India 2023 is themed “The Runway to a Billion Opportunities” and is in line with the government’s vision of “Make in India, Make for the World”.
The event will focus on showcasing local equipments and technologies and building partnerships with foreign companies.
Modi said at the opening that Aero India is a shining example of the country’s growing capabilities. He also stressed that the nation began exporting defense equipment to 75 countries and noted that the goal is to take foreign defense sales from $1.5 billion to $5 billion by 2024 to 2025.
During the meeting, around 250 agreements are expected to be signed between companies, with investments worth one billion dollars, and the sessions will focus on the exhibition of domestic equipments, technologies and the creation of partnerships with foreign companies.
Speaking at a press conference, Defense Minister Rajnath Singh said the event will highlight the country’s manufacturing ability and the progress made in achieving the “Aatmanirbhar Bharat” (Self-Reliant India) concept.
Singh said the event will act as a catalyst for further growth of the Indian aerospace sector and help achieve the national goal of becoming self-sufficient in defense manufacturing.
The event is expected to be attended by defense ministers from 32 countries, air force chiefs from 29 countries and 73 CEOs of aerospace companies.
Exhibitors include Airbus, Boeing, Dassault Aviation, Lockheed Martin, Israel Aerospace Industry, BrahMos Aerospace, Army Aviation, HC Robotics, SAAB, Safran, Rolls Royce, Larsen & Toubro, Bharat Forge Limited, Hindustan Aeronautics Limited, Bharat Electronics Limited, Bharat Dynamics Limited and BEML Limited.
The Ministry of Defense expects the physical attendance of half a million visitors.