Defence Expo 2018 Highlights: All you need to know about PM Modi's speech

Prime Minster Narendra Modi inaugurated the 10th edition of Defence Expo in Chennai. The expo, attended by over 670 exhibitors, including 150 from abroad, showcased India's capability in the export of defence systems and components. However, he was greeted with black flags and black balloons upon his arrival in Chennai.

Here are the highlights of PM Modi's speech

• I am delighted & overwhelmed to see an enthusiastic gathering in this historic region of Kanchipuram in the great State of Tamil Nadu.
• He lauded the efforts of the Ministry and said that he was delighted to see over 500 Indian and over 150 foreign companies participating in the exposition.
• The event will showcase for the first time ever, India's defence production capability.
• Today we live in an interconnected world, therefore the strategic imperative for Make in India and Make for India, is stronger than ever.
• India is a land of glorious maritime legacy, and Tamil Nadu has been at the forefront of that legacy. This is the land from where India Looked East and Acted East for thousands of years.
• The Defence Procurement Procedure has been revised with many specific provisions for stimulating the growth of domestic defence industry.
• We are committed to establishing 2 Defence Industrial Corridors: 1 in TN & 1 in UP. These will utilize defence manufacturing ecosystems in the regions & further build upon it. The corridors will become engines of economic development & growth of defence industrial base.
• We have launched the 'Innovation for Defence Excellence' scheme. It will set up Defence Innovation Hubs throughout the country to provide necessary incubation and infrastructure support to the start-ups in the defence sector.
• There was a time when the critical issue of defence preparedness was hampered by policy paralysis. We have seen the damage such laziness, incompetence or perhaps some hidden motives can cause to the nation. Not now, Not anymore, Never again.
• You would have seen how the issue of providing bullet-proof jackets to Indian soldiers was kept hanging for years. You would have also seen that we have brought the process to a successful conclusion with a contract that will provide a boost to defence manufacturing in India.
• You would also recall the long-drawn process of procurement of fighter aircraft that never reached any conclusion. We have not only taken bold action to meet our immediate critical requirements but have also initiated a new process to procure 110 fighter aircrafts.
• In May 2014, the total number of defence export permission granted stood at 118, for a total value of 577 million dollars. In less than four years, we have issued 794 more export permissions, for a total value of over 1.3 billion dollars.