DefExpo 2022

In News 

• 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