Prime Minister Narendra Modi Monday inaugurated Asia's biggest Aero India show 2023 at the Yelahanka Airbase in Bengaluru and said the country will not let go of any opportunity nor spare any effort to become a leading defense sector player.

Addressing the gathering of defense ministers, Chief Of Defence Staffs and dignitaries from various countries, PM Modi said that 21st Century India will not let go of any opportunity to become the leading defense sector player.

PM Modi also stated that by 2024-25, the Indian defense exports are going to be five billion dollars. He explained that from being an importer of defense products, India is exporting six times more. In 2021-22 the exports have crossed 1.5 billion dollars.

"This is being done despite the notion that the defense market and business are complicated," he said.

"For Amrit Kaal Bharat, there is no fear to achieve the highest glory. This India will take decisions immediately. However, the speed might be, always India will be connected to its roots," PM Modi said.

The Prime Minister also claimed that India from being a market is now ready to play the role of a defense partner for various countries. "For the global defense manufacturing industry, India is not only a market, but it is also a potential defense partner.

"The country can offer cost-effective, credible, best innovations, and honest intent is also present. There is 'niyat' (true loyalty and honest intentions) in exceptional policies. There is a government which is decisive and well aware of the ground situation," PM Modi said.

"The system is supportive and investors can take advantage. He described that the skies of Bengaluru are giving an example of a dependable India, they are a witness to new heights that India has scaled. Aero India 2023 shows the growing capability of the country," he said.

"The delegates from over 100 countries are participating in the event, which shows the trust of the whole world towards India. This event has broken all records. India's MSMEs, startups as well as reputed global companies are taking part in the event," PM Modi stated.

The Prime Minister viewed a majestic display of the Indian Air Force at the Aero India Show 2023. He also released a commemorative stamp of the event. (KB/IANS)