The interim Union Budget 2019-20, presented in Parliament on February 1, 2019, allocated INR 4,31,011 crore (US$ 60.9 billion) to the Ministry of Defence. Of the Ministry of Defence’s total allocation, INR 3, 01,866 crore ($42.7 Billion) is earmarked for what is conventionally termed as the defence budget.
The capital expenditure is projected to grow at an accelerated pace in the Indian aerospace & defense market propelling it to an estimated size of USD 23 billion by 2024. Growing focus on indigenous manufacturing and targeted spends of USD 130 Billion on military modernization in the next 5 years, will open up long term opportunities for private sector manufacturers and MSME’s engaged in supplies of raw materials, components, assemblies and subassemblies significantly as India realizes its objective of self-reliance.
The Union Minister recently announced that the country is going to invest huge resources on modernization of the defence sector in the coming years. A lot of defence equipment are currently being imported, he said, and called for better collaboration between the defence sector and the industry to reverse this trend. The minister of state for defence also urged industry leaders to invest in the country’s defence sector.
New Delhi for long has firmly been establish as the aerospace and defence capital of the country and is gearing up to play a larger role in the world. The large number of defence SMEs and MSMEs in the city and the abundance of human capital, make it easy for companies to set up shop in New Delhi and find the right talent. Home to key organizations like Defence Research and Development Organization (DRDO), Bharat Electronics Limited (BEL) & Hindustan Aeronautics Limited (HAL) and multiple R&D labs New Delhi presents the ideal environment.
We at TraiCon have been working extensively with several defence and security experts to research and develop an international knowledge and business exchange platform known as the Indian Defence Conclave 2019 which will be held on 7th & 8th November 2019 in New Delhi, India and will comprise of a two day exhibition and international conference. This exclusive two day conference is going to be our countries premier international defence knowledge exchange platforms and will showcase the latest technology for land, sea and air defence. It is an ideal platform to establish and strengthen your relationships with key decision makers from government, military and the defence industry, giving you an opportunity to address some of the biggest challenges and come up with real time solutions.
At the Indian Defence Conclave 2019 you will witness some very interesting presentations from our expert presenters, highly interactive panel discussions, educative technical workshops and a very exclusive opportunity to network with your industry peers.