More than 200 Consolidation Agreements of India signed at Defense Expo

Lucknow: So far, India has signed more than 200 consolidation agreements at the Defense Expo 2020 in Lucknow. In the next four years, India will achieve the target of $5 billion worth of defence exports, claimed Indian Defense Minister Rajnath Singh, citing this example. Besides, the Chief Minister of Uttar Pradesh also stated that the UP government has also signed 23 cooperation agreements, which will result in an investment of around Rs. 50,000 crores { $500 billion } in the state. The Chief Minister further stated that India has started paying special attention to the defence sector and the benefits are now coming to the country.

India’s defence exports to India stood at Rs.10,745 crores exports have increased sevenfold, compared to the financial year 2018-19. Considering this success, India will achieve the goal of exporting $ 5 billion worth of patent exports by 2024. The fact that more than 200 cooperation agreements were signed at the Defense Expo proves the potential of the Indian Defense sector”, Rajnath Singh asserted at that time.

In this Defense Expo, we expected to have about 100 consolidation agreements, but around 200 agreements have been concluded here. The Secretary of Defense, Ajay Kumar, said that this is indicative of a new celebration in the Indian defence sector. India has displayed guns, helicopters, ranged missiles and bulletproof jackets at the Defense Expo. It is said to have received a good response from other countries.

Meanwhile, Lockheed Martin, a US company, has entered into a cooperation agreement with Bharat Electronics Limited. Lockheed Martin has developed the ‘F-21’ fighter planes, given India’s needs. The company claims that these planes will be extremely useful to the Indian Air Force. India will soon begin the process of procuring 114 fighter aircraft, and Lockheed Martin has given the option of F-21 to India.