Bengaluru: Monday, Prime Minister Narendra Modi promoted India as a favourable location for investment in the defence manufacturing sector, claiming that the country will soon become one of the world's leading producers of military gear thanks to supportive economic policies.
Speaking at the opening of Aero India 14 at the Yelahanka Air Force station complex outside of Bengaluru, he claimed that India has "rejuvenated" its defence industrial industry in the last eight to nine years and is planning to increase its export of military gear from USD 1.5 billion (one billion Equals Rs 100 crore) to USD five billion by 2024-25.
Nothing will escape the attention of the new India of the twenty-first century, and no effort will be spared. We're getting ready to go full steam ahead. On the path of reforms, we are bringing revolution to every sector," Modi stated.—Inputs from Agencies