India not just a market but also a land of immense opportunities for the world, says Kovind
President Ram Nath Kovind at the valedictory function of Aero India-21, at Air Force Station, Yelahanka, in Bengaluru on February 5, 2021. Defence Minister Rajnath Singh and Karnataka Chief Minister B. S. Yediyurappa are also seen.

India not just a market but also a land of immense opportunities for the world, says Kovind

Bengaluru, February 5, 2021

President Ram Nath Kovind said today that India was not just a market but was at present also a land of immense opportunities for the whole world, including in the defence sector.

Addressing the valedictory function of the Aero India-21 -- the biennial air show -- in Bengaluru, the President said Aero India 2021 was the living proof of India's ever-growing strength in the defence and aerospace sectors at the global level.

The event has exhibited that the global confidence in India’s capabilities was growing steadily, he said.

Kovind said the reforms initiated in India in the last six years offered unprecedented opportunities to investors and private companies in the defence and aerospace sectors.

“We have taken several policy initiatives aimed at placing India among the top nations in the defence sector with twin objectives of self-reliance and export promotion,” he added.

The President said the government was focused on promoting the ‘Ease of Doing Business’ to encourage manufacturers to set up units in India. The defence sector has also been witnessing steady liberalisation. Industrial licensing requirements have been eliminated for several items. The processes for industrial licence and export authorisations have been simplified and made online. To facilitate the establishment of defence industries and give impetus to the MSMEs, two defence corridors have been established in the states of Uttar Pradesh and Tamil Nadu, he said.

All these efforts were expected to unleash a huge potential of job creation in the country while taking India onto the path of self-reliance in defence production, he said.

Referring to the Conclave of Defence Ministers of Indian Ocean Region (IOR), on the theme of ‘Enhanced Peace, Security, and Co-operation in the Indian Ocean’ which was organised on the margins of Aero India 2021, the President said India has always been an ardent an advocate of universal peace and development.

“IOR is an important region because of its rich natural resources and strategic location. We have floated the idea of ‘SAGAR’ which stands for ‘Security and Growth for All in the Region’, to promote co-operation in the Indian Ocean Region. It is important that IOR nations focus on fostering political, economic, cultural and defence co-operation,” he added.

The President said India has always been ready to share her expertise and resources with all IOR nations for planning and coordination in Humanitarian Assistance and Disaster Relief.

“After the Covid-19 outbreak, under Operation SAGAR 1 we reached out to our neighbours and assisted them with medical teams, medicines as well as diagnostic kits, ventilators, masks, gloves and other medical supplies. In keeping with India’s stated commitment to using its vaccine production and delivery capacity to help the entire humanity fight the Covid-19 pandemic, supplies under grant assistance to our friendly foreign nations have already begun,” he stated.

NNN

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