Did you know that India’s paramilitary forces are the 4th most powerful in the whole world and the strongest force in Asia after China? And to flaunt this off, India exhibited its top-notch military toys at an exhibition held recently.
In the 11th edition of the Defense Expo held at Lucknow in Uttar Pradesh, India exhibited its collection of military equipment and weapons. The Defense Expo, popularly known as DefExpo 2020 saw the participation of over 1000 companies from the defense space and foreign delegates from over 40 countries.
The Idea Behind the DefExpo 2020
The exhibition was not just held to flaunt our power, but also to expand it through partnership with other manufacturers of military equipment and weapons. This would lead to newer tie ups between the government and foreign parties, Indian companies and foreign players and also between government and the private companies in India
In this edition of the Defense Expo, over 200 deals and partnerships amongst private firms and foreign manufacturers of arms were sealed which are likely to help in joint development of military weapons and equipment.
The prime minister of India Mr. Narendra Modi announced that by 2025 India will be self-sufficient in the manufacturing of military equipment. The target for defense export in the next five years is over $5 billion.
All the three major players of the Fighter jet space, namely Boeing Co., Airbus SE and Lockheed Martin signed multibillion-dollar deals, which was in line with the aim of Indian PM to upgrade the fleet of the ageing fighter jets and aircrafts for the Indian Air Force.
Some of the Multi-Billion-Dollar Deals
Airbus is planning to setup an assembly line in India in partnership with Tata Group for manufacturing military transport aircrafts. Airbus also signed an MoU with Adani Aerospace and Defense for aircraft services in India.
Dassault, the French Defense firm, also said that they are planning to develop a facility in Central India to make the Rafale fighter jets in India. Dassault is already under contract from the Indian Government for the supply of 36 Rafale aircrafts.
Lockheed Martin also signed a MoU with Bharat Electronics Ltd. Lockheed Martin proposed that the parts of its fighter jet F-21 should be locally produced and supplied in the Indian sub-continent.
Boeing Co. proposed a modernization drive for the Indian forces by five of its products including the Super Hornet, KC-46 tanker, CH-47 Chinook helicopter, AH-64E Apache Chopper and the P-8I aircraft. AS per Boeing they want to build a global defense system which will eventually create jobs and boost industrial capacity under the Make in India campaign.
There were a total of 23 Memorandums of Understanding (MoU) which were signed in the 11th edition of DefExpo 2020. The various partnerships which are signed between Indian companies and foreign manufacturers of defence and military equipment for the manufacturing and supply of military equipment and defense systems. This will eventually generate more employment and revenue in the country.
Who Gets the Big Buck?
There is expected to be a rise in the capitalization of Indian Defense equipment manufacturing companies considering the deals signed in DefExpo. The Adani Aerospace and Defense which is a subsidiary of the Adani group, Tata, Bharat Electronics etc. are some of the leading Indian brands which have signed multibillion-dollar partnerships.
The Auto Expo was held in Delhi at the same time. Manufacturers like Tata Group who launched the lineup of vehicles complaint upcoming BSVI emission norms as well as electric vehicles are supposed to get benefits from both ends. It will be worth the wait to watch that how will these multibillion-dollar partnerships help the Indian economy to recover.
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