Aero India witnesses 266 partnerships having potential to unlock business worth around Rs 80,000 crore

As many as 266 partnerships including 201 MoUs, 53 major announcements and nine product launches were firmed up at the Aero India that could unlock business potentials worth around Rs 80,000 crore.

The MoUs included one between Hindustan Aeronautics Limited and Safran Helicopter Engines of France for work share for formation of joint venture for design, development, manufacture and life time support of helicopter engines.

The agreements and the MoUs were formally signed at an event titled "Bandhan" ceremony that was attended by Defence Minister Rajnath Singh, top leaders of Indian defence industries and senior military officials.

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"The Bandhan ceremony also witnessed the forging of 266 partnerships including 201 MoUs, 53 major announcements, nine product launches and three Transfers of Technology (ToT), worth around Rs 80,000 crore," the defence ministry said in a statement.

The Bharat Electronics Ltd and Aeronautical Development Agency also inked an MoU for the Advanced Medium Combat Aircraft (AMCA).

The product launches at Aero India included the vertically launched short range surface-to-air missile (Bharat Dynamics Limited).

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It is a next-generation, ship-based, all-weather, air defence weapon which can be used by the Navy as a quick reaction defence against supersonic sea skimming targets such as aircraft and Unmanned Aerial Vehicles.

The missile has a smokeless propulsion system with all-weather capability. It has a highly agile configuration with state-of-the-art electronic counter-measures features.

Another significant product launch was of the semi-active laser seeker based anti-tank guided missile developed by Bharat Dynamics Limited. The missile weighs 23 kgs with the launch tube, and can be used in different kinds of terrains to incapacitate moving and stationary targets such as tanks and infantry combat vehicles.

The 14th edition of Aero India at the Yelahanka Air Force station complex on the outskirts of Bengaluru was inaugurated by Prime Minister Narendra Modi on Monday and it saw participation of over 700 defence firms and representatives of around 100 countries.

The defence minister said that Aero India showcased to the world the 'New Defence Sector' of 'New India', which has not only grown in the last few years, but is now fully ready to walk alongside the defence sectors of leading countries.

He expressed satisfaction that the event paved the way to strengthen the Indian defence industry, terming it as the beginning of a new era of 'aatmanirbharta'.

The minister exuded confidence that the sector will move forward strongly on the path of progress with new energy and determination.

The MoUs and technology transfer agreements signed during Aero India will facilitate a new beginning for defence manufacturing in India, Singh said.