“This was the most outstanding defence expo ever. It saw the highest number of exhibitors, which is in addition to tens of thousands of business visitors. The extent of business this defence expo has generated has surpassed all the previous records,” Defence Secretary Ajay Kumar said.

At DefExpo 2020 in Lucknow, 201 agreements were finalised between “industry and industry, industry and state governments and industry and central governments,” Kumar said.

Out of 451 deals, the Uttar Pradesh (UP) Government has signed 13 worth Rs 564 crore, said State Cabinet Minister Nand Gopal Gupta. He added that these MoUs are with the UP Expressways Industrial Development Authority (UPEIDA), with investments to be made in the UP Defence Corridor developed by the UPEIDA.

In the 2018-19 General Budget, the government announced plans to establish two defence corridors, in UP and Tamil Nadu. This will help fill the gap in indigenous defence production and is in line with India’s Make in India and defence Atmanirbharta (self-reliance) campaign.

Defence Minister Rajnath Singh stated, “This is the beginning of self-reliance in the Indian Defence sector. This expo has shown that the future belongs to India. This expo has also shown that India will become a global defence manufacturing hub.”

DefExpo 2022 had two firsts: it is India’s first defence expo exclusively for Indian firms and the erstwhile Ordinance Factory Board’s seven new companies were presenting. 75 countries were present, with 45 of them from Africa represented by their defence ministers.

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The new policy will aim at providing higher incentives to investors setting up their units in the defence and aerospace manufacturing sector in UP’s Defence Industrial Corridor.

Energy minister AK Sharma said the cabinet decided to amend the policy formulated in 2018 to provide incentives up to a maximum of Rs 500 crore (against the existing Rs 15 crore) to attract large investments. “The new policy provides for a capital subsidy of 7 per cent or a maximum of Rs 500 crore in non-Bundelkhand region and 10 per cent or a maximum of Rs 500 crore in the Bundelkhand region of the state,” he said.

Awanish Kumar Awasthi, UPEIDA chief executive officer said chief minister Yogi Adityanath had asked for reviewing all sectoral policies keeping in view the proposed Global Investors Summit-2023 that envisages to attract investment of Rs 10 lakh crore.

The state government has so far been able to attract investments worth Rs 2,800 crore to Rs 3,000 in the defence and aerospace manufacturing sector against a set target of Rs10,000 crore. This initiative by the Uttar Pradesh government is a step forward in its dream to have a trillion-dollar economy.

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