• News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Decisive, Stable & Honest Government Making India Ideal For Business: Modi

Prime Minister’s hard sell to global business and private sector marks the inauguration of the 14th edition of Aero India at Bengaluru

Photo Credit : Ministry of Defence


Prime Minister Narendra Modi at the inaugural ceremony for Aero India 2023 at Bengaluru

A decisive, stable and honest government makes India an attractive investment destination for the Defence and Aerospace sector, Prime Minister Narendra Modi said while inaugurating the 14th edition of India’s largest air show, Aero India at Bengaluru on February 13. 

Using the stage to hard sell investment, Modi said India is an increasingly capable and reliable partner. Aero India is no longer just an air show but reflects the new approach of a new India, which is touching new heights. 

“India is not just a market today but a potential partner,” the Prime Minister said, observing that Aero India showcased India’s unlimited potential in the Defence sector. He dwelled on the transformative change in India’s status as the world’s biggest importer of arms to one that is exporting Defence equipment to 75 countries worldwide, with a target to increase the value of Defence exports to $5 Billion by 2024-25.

“Aero India reflects the new approach of a new India. There was a time when it was considered just a show. In the past few years, this perception has been changed. Today it’s also a reflection of India’s growing capability. Aero India showcases India’s unlimited potential in Defence backed by talent, capability and experience,” he said. 

Modi mentioned the Light Combat Aircraft Tejas, the aircraft carrier INS Vikrant, and new aircraft manufacturing facilities at Vadodara and Tumkur as demonstrators of Indian capability. 

India makes a dependable partner for Defence because it’s credible and cost effective, an innovator and honest in its intent. 

“The presence of about 100 countries here is a reflection of increased confidence in India and its growing stature. More than 700 exhibitors from India and abroad are participating at Aero India, breaking past records,” he said, adding that “Bengaluru’s skies are testimony to the new heights of Indian capability.” 

Exhorting the Indian private sector to invest in the Defence sector, he said a “decisive, stable government with honest intentions” has created a favourable environment, which he termed “unprecedented”. “In Amrit Kaal Bharat, the country is soaring like a pilot, it’s government is decisive and its policies long-term. And no matter how high it soars, India is always grounded,” the Prime Minister said, suggesting a durable business-friendly climate. 

“The new India will now neither lose any opportunity nor found wanting in hard work. We're ready,” exhorted Modi. 

The Prime Minister also paid tribute to Karnataka as an Industry leader. “Aero India is special for another reason. That is Karnataka,” he noted, stating that the Aerospace and Defence sector creates new possibilities for youth in the state. He urged the state to make its capabilities the nation’s strength. 

Modi also released commemorative postal stamps for Aero India 2023. 

Speaking about Bengaluru’s commitment and suitability as the host for Aero India and, by extension, as the capital of India’s Defence and Aerospace Industry, Karnataka Chief Minister Basavraj Bommai recalled that Aero India 2021 was staged even when renowned global events like the Paris Air Showe were cancelled amidst the Covid pandemic.  

“To make India a greater global power in the future, Karnataka will be one of the greatest contributors in terms of economy, social order & defence,” he said. 

Chief of the Indian Air Force Air Chief Marshal Vivek Ram Chaudhari flew the indigenous Light Combat Aircraft Tejas while leading the Gurukul formation during the flypast at the inaugural ceremony, demonstrating the commitment of India’s armed forces to the Aatmanirbhar Bharat agenda for self-reliance.