Another achievement has been added to the land of India's largest state Uttar Pradesh. The 11th Defense India Expo-2020 organized by the Ministry of Defense here has created a large 'gateway' for investment in the defense sector in India. A total of 200 investment agreements have been signed in this event with the participation of defense ministers of 40 countries and hundreds of foreign-foreign entrepreneurs and defense experts. Defense Minister Rajnath Singh himself claimed that for the first time in the Defense Expo so many agreements have been reached.
In the presence of Defense Minister Rajnath Singh and Chief Minister Yogi Adityanath, a 'Bandhan' program was organized on Friday on the third day of the five-day Defense Expo organized in Lucknow's Vrindavan Yojana. In this program, agreements (MoUs) have been signed between all the big companies of the world and defense establishments. The Defense Research and Development Organization (DRDO) transferred the technology to the companies. Also, defense establishments and defense product companies launched products.
For your information, let us tell you that apart from this, BB-to-MOUs were also held in many different halls. There were a total of 200 MoUs in the Bandhan program, in which 71 MoUs were signed with the Government of India and its undertakings. 23 out of 71 agreements were made with the UP Industrial Expressway Authority (UPDA), a department of the UP government. Companies signed with UPDA will invest in the UP Defense Industrial Corridor. Similarly, 13 products, including the Sharang Cannon developed by the Ordnance Factory Board, were launched, six announcements were made and DRDO completed the technology transfer process to 18 companies. With such a huge investment in India, the pace of defense production will be accelerated as well as Prime Minister Narendra Modi's Make in India campaign.
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