Need to Increase Defence Preparedness, Modernise Defence Forces, Says PM Modi at Aero India 2015: Highlights

Prime Minister Narendra Modi inaugurated Aero India 2015, the biggest air show in Asia. Here are the highlights of his speech:

• This is the largest ever Aero India.
• This reflects a new level of confidence within our country and global interest in India.
• We do need to increase our defence preparedness. We do have to modernise our defence forces.
• We have to equip ourselves for the needs of the future, where technology will play a major role.
• This is a mega meeting of one of the largest global supply chains with the most advanced technology and complex equipment.
• This is a platform to launch India's defence manufacturing sector.
• Developing India's defence industry with a sense of mission
• Preference to defence equipment manufacturers in India
• Want to become exporter of defence equipment
• 60% of our defence equipment continues to be imported.
• Even 20-25 per cent cut in defence imports will create 1 lakh jobs.
• Don't want to be No 1 in importing defence equipment.
• Studies show that even a 20 to 25% reduction in imports could directly create additional 100,000 to 120,000 highly skilled jobs.
• If we could raise percentage of domestic procurement from 40% to 70% in next 5 years,we would double the output in our defence industry.
• We are focusing on developing India's defence industry with a sense of mission.This is why it is at the heart of @makeinindia_ programme.
• Have introduced significant reforms in our offsets policy. Am acutely aware that it still needs a lot of improvements. Will pursue them.
• I want our offsets policy not as a means to export low-end products but to acquire state-of-the art technology and skills.
• We must involve our scientists soldiers, academia, industry & independent experts more closely in research and development:
• We must ensure that our tax system does not discriminate against domestic manufacture in comparison to imports.
• Our defence industry will succeed more if we can transform the manufacturing sector in India.
• We want to develop an industry that is dynamic. It should constantly stay at the cutting edge of the global industry.
• I am confident that India will emerge as a major global centre for defence industry.
• We will build an industry that will have room for everyone - public sector, private sector and foreign firms.
• A strong Indian defence industry will not only make India more secure. It will also make India more prosperous.
• Aero India can be a catalyst in realising our goals. That is why I am here today.