India to spend USD 130 bn on military modernisation, prepared to defeat misadventures at border: Rajnath Singh

India is vigilant in the face ofattempts to change status quo at its border and prepared todefeat any misadventures to defend its territorial integrity,Defence Minister Rajnath Singh said on Wednesday, amid thecontinued military standoff with China.

''We have long witnessed unfortunate attempts to employforce to change the status quo at our unresolved borders'', hesaid at the inaugural ceremony of Aero India-2021, thecountry's premier Defence and aerospace show, at Yelahanka AirForce Station here.

''India is vigilant and prepared to counter and defeat anymisadventures to defend our people and territorial integrityat all costs,'' the Minister asserted.

China and India are locked in a military standoff ineastern Ladakh since May 5 last. The two countries have heldseveral rounds of military and diplomatic talks to resolve theface-off, but no significant headway has been made so far.

Dubbed as Asia's largest military aviation exhibition,the three-day Aero India event commenced amid the COVID-19pandemic with buzz around ''Aatma-Nirbhar Bharat'' (self-reliantIndia) and ''Make in India'' push.

With a combination of both physical and virtualexhibition, the 13th edition of the biennial internationalevent is said to be the world's first hybrid aerospace show.

Singh also said India plans to spend USD 130 billion onDefence modernisation in the next 7-8 years with the focus ondomestic manufacturing of bigger and complex platforms.

The government has since 2014 brought in many reforms inthe defence sector to create a conducive ecosystem forexports, Foreign Direct Investment and offset discharge, henoted.

To achieve the twin goals of self-reliance and exports,the government has set a target to achieve a turnover of Rs1,75,000 crore in the field of Defence manufacturing,including export of Rs 35,000 crore in Aerospace and Defencegoods and services, by 2024, Singh said.

''We plan to spend USD 130 billion on Defencemodernisation in the next seven to eight years'', he added.

Like many of its friendly countries, India also facesthreats and challenges emanating from multiple fronts, theDefence Minister said, adding, the country was a ''victim ofstate-sponsored and state-inflicted terrorism which is now aglobal threat''.

The government has taken several steps to strengthen thecountry's security apparatus recently.

Domestic manufacturing of bigger and complex defenceplatforms has now become the focus of our policy under the'Aatma-Nirbhar Bharat Abhiyaan', he said.

Singh said he has been informed that about 540exhibitors, including 80 foreign companies, Defence Ministers,Delegates, Service chiefs and officials from more than 55nations are participating in the Aero India event.

''It reflects the growing optimism of the globalcommunity'', he said.

Singh also expressed gratitude to the Defence Ministersfrom Maldives, Ukraine, Equatorial Guinea, Iran, Comoros andMadagascar who have attended this show in person, and manyothers who are joining virtually.

Noting that India today offers a unique opportunity indefence and aerospace manufacturing, he said, this opportunitycomes as a 'Sangam' of rising demand, greater innovation,conducive policies and maturing ecosystem in defence andaerospace manufacturing sector.

Over the years, the government has facilitatedestablishment of wide-ranging production facilities, ofvarious defence equipment through Defence Public SectorUndertakings and Ordnance Factories, he added.

Pointing out that India is one of the fastest growingcivil aviation markets in the world, the Defence Ministersaid, with rising passenger and cargo traffic, demand foraircraft and the related supply chains is increasing.

''India therefore holds a huge potential for investments inthe aerospace sector, particularly in manufacturing of aeroengines and sub-assemblies as well as in Maintenance Repair &Overhaul, of Aircraft,'' he said.

Singh invited business leaders from across the globe totake advantage of the various initiatives of the governmentand set-up manufacturing units in the country.

With focused attention being laid on promotion of exportsof defence products from the country, India is steadilymarching from Make in India towards Make for the World,Singh said.

A high-level committee has been constituted forauthorising exports of major indigenous platforms to variousnations, leading to faster approvals, he added.

''Our vision is to make India one of the biggest countriesof the world in the Defence sector, from design to production,with active participation of public and private sectors'', headded.

Noting that India has a vast coastline and its interestsalso lie beyond the shores, Singh said it included people whoreside and work across continents, especially in the IndianOcean Region.

It was the government's bounden duty to remain capable andwilling to assist them in times of natural calamities andsecurity challenges, he added.

Indian Ocean Region Defence Ministers Conclave, themedon ''Enhanced peace, Security and cooperation in the IndianOcean Region'' is being held during the Aero India.