The fourteenth edition of the aero show that kicks off in Bengaluru on Monday is expected to attract investment commitments worth of over Rs 75,000 crore.
Aero India 2023 will likely see over 251 memorandums of understandings between domestic and foreign collaborators spanning transfer of technology, orders and investments.
As many as 27 foreign original equipment manufacturers will participate in the event, while 115 Indian companies will showcase their products and technology.
The key highlight would be the Tejas Mk1 light combat aircraft. To be showcased as the ‘Wings of the Future’, the aircraft will highlight India as an emerging country in the aerospace industry, Defence Minister Rajnath Singh said at the curtain raiser.
Indian manufacturers will also showcase drone and anti-drone products, space and futuristics technologies like AI, quantum communication in defence, robotics, autonomous systems and 5G.
India was the world’s third largest defence spender at $76.6 billion in the year ended March 2022. The country aims to develop a Rs 1.75 lakh crore aerospace defence sector by 2025, including Rs 35,000 crore in exports. The government is looking at co-development and co-production in aerospace.