DefExpo 2020: Uttar Pradesh is to sign 23 MoUs and create 3 lakh job opportunities
The DefExpo was inaugurated by PM Modi on February 5, 2020. During the Defence Exhibition the Uttar Pradesh Government is to sign 23 MoUs. The agreements will bring in Rs 50,000 crores of investment. This will bring in job opportunities to 3 lakh people.
The DefExpo 2020 being held in Lucknow (Uttar Pradesh) is the biggest ever Defence Exhibition. The Exhibition aims at making India a technological power house through initiatives such as Start up India, Skill India and Make in India.
In order to boost the defence sector, the Indian Government has taken several measures. It has liberalized the FDI (Foreign Direct Investment) to 49% through direct route. Also, GoI liberalized the FDI through government route to 100%.
The DefExpo is biennial event organized by Ministry of Defence. The 11th edition of the event promises to bring in new technological solutions. Defence Ministers from 40 countries are attending the event.
Category: Defence Current Affairs