June 17th 2024.
New Delhi: A recent study conducted by Nexgen Exhibitions, organizers of the International Police Expo, has revealed that India can achieve its $5 billion defence export target by 2024-25 by taking necessary steps such as improving foreign direct investment processes, enhancing research and development efforts, and strengthening manufacturing capabilities.
The survey, which was conducted across 15 cities and involved over 130 national and international arms, ammunition, and security equipment manufacturers, exporters, and startups, highlighted the need for streamlined FDI inflows, advanced technology integration, and a skilled workforce in the defence sector.
According to the statement released by Nexgen Exhibitions, this initiative aims to propel India towards its ambitious defence exports target by 2024-25. The survey also emphasized the importance of elevating R&D and manufacturing capabilities in making India a global manufacturing hub for the homeland security and defence sector.
In addition, the survey noted that expanding procurement categories is a significant step towards boosting domestic defence manufacturing. Currently, India exports defence equipment to over 75 countries, showcasing its growing presence in the global defence market.
The homeland security sector plays a crucial role in maintaining internal stability and safeguarding national interests. By adopting advanced technologies and data analytics, security agencies can effectively detect, monitor, and respond to potential threats. The integration of AI and machine learning can further enhance the efficiency of risk prediction and mitigation.
Furthermore, the survey stressed the importance of developing a robust disaster management mechanism to ensure preparedness and swift response during emergencies, thereby enhancing public safety and national resilience.
Aadhar Bansal, Director of Nexgen Exhibitions, stated that the Indian government's supportive policies, along with strategic partnerships and collaborations, are driving the growth of the country's defence exports, bringing it closer to achieving the $5 billion target by 2024-25.
The International Police Expo, scheduled for July 4-5, 2024 in New Delhi, serves as a platform for global and domestic manufacturers, suppliers, and innovators to connect and discuss the key priorities shaping the future of policing and homeland security.
Over 25 countries, including the UK, USA, Israel, Poland, Croatia, UAE, Germany, Canada, Singapore, Brazil, Hong Kong, and Taiwan, will participate in the expo, showcasing their latest innovations and technologies and promoting international collaboration and exchange of best practices.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
