Aero India 2023: Indian, Foreign Defence Firms Likely To Ink Over 250 MoUs Worth Rs 75,000 Crore At The Event

Over 250 Memoranda of Understandings (MoUs) and agreements will be signed between various Indian and foreign organisations during the Aero India 2023.

The 14th edition of Asia’s largest aero show, Aero India 2023, was inaugurated by Prime Minister Narendra Modi on Monday (13 February) at Indian Air Force's Yelahanka Air Base in Bengaluru.

The five-day long event from 13 to 17 February will showcase India’s manufacturing prowess and the progress achieved towards realising the government's ‘Aatmanirbhar Bharat’ initiative.

On 15 February, the Bandhan ceremony, which witnesses signing of MoUs and agreements, transfer of technologies, product launches and other major announcements, will be held.

The ceremony will be presided over by Defence Minister Rajnath Singh and will witness signing of 251 MoUs.

"Two hundred and fifty one (251) MoUs, with an expected investment of Rs 75,000 crore, are likely to be signed for partnerships between various Indian/foreign defence companies and organisations," the Defence Ministry said in a release.

The major exhibitors at the event include Airbus, Boeing, Dassault Aviation, Lockheed Martin, Israel Aerospace Industry, BrahMos Aerospace, Army Aviation, HC Robotics, SAAB, Safran, Rolls Royce, Larsen and Toubro, Bharat Forge Limited, Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), Bharat Dynamics Limited (BDL) and BEML Limited.

According to the Defence Ministry, Aero India 2023 will showcase design leadership, growth in UAVs Sector, Defence Space and futuristic technologies.

The event aims to promote export of indigenous air platforms like Light Combat Aircraft (LCA)-Tejas, HTT-40, Dornier Light Utility Helicopter (LUH), Light Combat Helicopter (LCH) and Advanced Light Helicopter (ALH).

It will integrate domestic MSMEs and start-ups in global supply chain and attract foreign investments including the partnerships for co-development and co-production, the ministry said.