On 15th July, Shri Shripad Yesso Naik, Minister of State (MoS) for Defence inaugurated the 5th edition of conference on Aerospace and Defence (A&D) Manufacturing Technologies in New Delhi through Video Conference. The conference was jointly organised by Confederation of Indian Industry (CII), Tamil Nadu Technology Development and Promotion Centre (TNTDPC) and Society of Indian Defence Manufacturers (SIDM).
Theme of 5th edition: Empowering India with ‘Atma Nirbhar Bharat Mission’.
Note -Objective of the Defence Production Policy (DPP) is achieving 26 Billion US Dollar domestic production by 2025 and making India self-Reliant in Defence Production.
Highlights of the Conference:
- The conference was organized to the meet the objective of DPP with various central government initiatives & to promote ‘Make in India’ and ‘Atmanirbhar Bharat’ Abhiyaan.
- Defence Sector has increased at a Compound Annual Growth Rate of 9.7 per cent from 2008 to 2016.The defence sector has shown immense growth in recent times, the growth level in 2017-18 is USD 42.83 billion.
- The A&D industry in India is estimated to reach 70 billion dollars by 2030.
- Indian civil Aviation Maintenance, Repair, Overhaul (MRO ) market, at present, stands at around $900 million and is anticipated to grow to $4.33 billion by 2025 increasing at a CAGR of about 14-15 per cent.
- Indian civil aviation market is the fastest growing civil aviation market with tourist footfall increasing 20 percent every year, the growth is expected to continue with the plan of investments of about USD 1.83 billion in the development of airport infrastructure by 2026.
About Ministry of Defence:
Union Minister – Shri Rajnath Singh
Minister of State – Shri Shripad Yesso Naik