Narendra Modi inaugurates Aero India 2023 with hopes of local production boost

India's Prime Minister Narendra Modi today inaugurated the 14th edition of its flagship aero show in Bengaluru, an event seen to be a great business opportunity when New Delhi is looking to push indigenous products, modernise Soviet-era equipment and as domestic carriers add fleet.

Aero India 2023, Asia's largest aero show, will run from February 13 to February 17, displaying locally-produced equipment and technologies to attract partnerships with foreign companies. The event will include aerial displays by aircraft and helicopters, as well as a large exhibition and trade fair of aerospace and defence companies.

India, under its "Make in India" policy, has been keen on manufacturers such as Lockheed Martin Corp, Boeing, and Airbus to make more than parts in the country and share technology.

About 809 companies from 98 countries are likely to take part in the event. The theme of Aero India 2023 is "The Runway to a Billion Opportunities".

At the Aero India show, Air India is likely to announce a potentially record deal to buy nearly 500 jets from Airbus SE and Boeing Co, valued at over $100 billion. Moreover, India's biggest carrier IndiGo amay also make a blockbuster order of a similar scale as Air India's, according to aviation consultant CAPA India.

CAPA predicts Indian carriers may buy 1,500 to 1,700 aircraft in coming years.

While such large-sized deals may help Air India go head-on with global rivals such as Emirates Airline to take a bigger pie o the international passenger market, the government's push for transfer of high technology and ramping up domestic manufacturing will pave way for Modi's ambition to share the stage with superpowers like the US, Russia and China.

With nuclear-armed rivals China and Pakistan sharing borders, India needs to modernise its largely Soviet-era fleet, the world's fourth-largest air force.

Defence Research and Development Organisation-developed Medium Altitude Long Endurance class unmanned aerial vehicle TAPAS-BH (Tactical Aerial Platform for Advanced Surveillance - Beyond Horizon) will make its flying debut at Aero India.

The Hindustan Aeronautics Limited (HAL) will display a 'Aatmanirbhar Formation' flight of 15 helicopters, comprising all variants of Advanced Light Helicopter (ALH), 'Prachand' Light Combat Helicopter, and Light Utility Helicopter (LUH).

The defence ministry is also organising a 'CEOs Round Table' today, under the chairmanship of Defence Minister Rajnath Singh.

The exhibition this year is expected to be the biggest air show with the highest rate of participation and will feature top international think-tanks, major aerospace companies and world leaders, according to Defence Ministry.