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.