Over 200 partnerships involving Signing of Memorandum of Understanding (MoUs), Transfer of Technology (ToTs) , Product launches were concluded on the third day of DefExpo 2020, at ceremony tilted “Bandhan”, making it the most successful such events to be held in India. The pacts, aimed at forging and renewing partnerships for innovative collaboration, and transformation of the Defence manufacturing in the country were inked by representatives of various DPSUs, Indian private Defence cos and foreign companies in the presence of Raksha Mantri Rajnath Singh and Chief Minister of Uttar Pradesh Yogi Adityanath in Lucknow.
Raksha Mantri described the signing of MoUs as a step in the direction to achieve Prime Minister’s $5 billion defence exports target in next 5 years. Among the MoUs signed on the third day, 23 were by Uttar Pradesh Government. Chief Minister of Uttar Pradesh, Yogi Adityanath said these MoUs envisage Rs 50,000 crores investment in the defence corridor setup in the state and generate 3 lakh job opportunities. Dr. Ajay Kumar, Defence Secretary said that this DefExpo would be remembered for many firsts – including for the signing of largest number of MoUs, ToTs and product launches. Bandhan ceremony witnessed more than 13 product launches, 124 MoUs between DPSUs, private and global defence manufacturing companies.