Context
The 12th edition of DefExpo will be held in Gandhinagar (from March 11-13, 2022). The 11th edition of DefExpo was held at Lucknow (Uttar Pradesh) in 2020.
About DefExpo
- DefExpo is a flagship biennial event of the Ministry of Defence, showcasing the land, naval, air as well as homeland security systems.
- The aim of the DefExpo 2022 is to build upon the vision to achieve Atmanirbharta’ in defence and reach the $5bn defence exports target by 2024.
- DefExpo 2020 had an exhibition expanse of over 75,000 square metres, with participation of more than 1,000 exhibitors.
- DefExpo was traditionally held in Delhi until 2014 after which it has seen a string of new venues
- Goa (2016)
- Chennai (2018)
- Lucknow (2020)
Defence Sector Reforms under Atmanirbhar Bharat Abhiyan
- To attract FDI in defence-
- The FDI limit is increased which will lead to more investment by global companies in the Indian economy.
- The country's capacity to invest was much larger but it is being underestimated, which will not remain the same in the present scenario.
- Promoting self-reliance
- The objective behind reform in the defence sector was to promote the Made in India project so that instead of import, export can be expanded which will lead to more money in the economy as well as more job creations.
- It will be buying weapons from the local market instead of the international market.
- This will lead to a push in the economy as the currency will flow in the Indian market only.
- Corporatisation of Ordnance Factory Board
- The export field will expand if the quality and quantity of goods will increase, the turnover will see a high rise and the major scheme which is being promoted.
- Make in India will get a good response which will be helpful for the economy in short as well as long run.
- Reduction in Defence Import Bill
- The government will notify a list of weapons/platforms banned for imports and thus such items can only be purchased from the domestic market.
- Separate budget provision for domestic capital procurement.
