Raksha Mantri Shri Rajnath Singh inaugurates ‘India Manufacturing Show’ Bengaluru

Bengaluru:2/11/23: Raksha Mantri Shri Rajnath Singh inaugurated the three-day ‘India Manufacturing Show’ in Bengaluru, Karnataka on November 02, 2023. The show has been jointly organised by Laghu Udhyog Bharti & IMS Foundation and supported by the Department of Defence Production, Ministry of Defence. The central theme of the event is ‘Make in India, Make for the World’.

Addressing the industry captains & young entrepreneurs present at the inaugural function, the Raksha Mantri described the small-scale industries as the backbone of India’s economy that contribute immensely to the development of the nation. “Small industries are the motor of the Indian economy. The faster the motor runs, the quicker the vehicle of the economy moves,” he said, also crediting the small industries for maintaining stability in the economy.

Shri Rajnath Singh highlighted the important contribution of these industries to the socio-economic development of the country. “Compared to investment made, small industries create more employment opportunities than large industries. They also ensure a more even dispersion of wealth in society. Many MSMEs are doing well in exports and are becoming a part of the global supply chain of the world’s biggest companies. Heavy industries, too, play a big role in the nation’s development, but the country cannot fully progress by ignoring small industries,” he said.

The Raksha Mantri remembered the time when India was called ‘golden bird’ and a big reason was that there were many small industries in villages and towns, which provided employment to the people. “In ancient times, there were no large-scale industries in India; they were only small industries. Textile, iron and shipbuilding were the three industries for which India was known all over the world. They showcased our industrial capability,” he said.

Referring to the opinion of a section of people who believe that private industries operate on selfish motives, the Raksha Mantri said, “There is a need to understand the concept of economy; the fine line between selfish motive and profit motive. The profits of private industries reach crores of families in India, due to which the economy of this country is running. If private industries do not work on a profit motive, they will not be able to contribute to the economy. ‘Profit is not selfish, Profit is legitimate benefit’”.

Shri Rajnath Singh also referred to the Innovations for Defence Excellence (iDEX) initiative, which was launched to invite new ideas in defence manufacturing through start-ups and innovators. He added that iDEX Prime was launched to support projects, requiring support beyond Rs 1.5 crore up to Rs 10 crore, to help the start-ups in the defence sector.

Shri Rajnath Singh appreciated the fact that small industries of the country are progressing well through Laghu Udyog Bharti. He exuded confidence that India will become self-reliant and a global manufacturing hub in the times to come if the industries continue to move forward with hard work and dedication.

Members of Parliament Dr Sudhanshu Trivedi & Shri Tejasvi Surya, Chairman & Managing Director, Bharat Forge Limited Shri Baba Kalyani and Executive Vice President & Head, L&T Defence Shri Arun Ramchandani were among those present on the occasion.

The sixth edition of ‘India Manufacturing Show’ will provide a platform for the exhibitors to showcase their technologies, equipment and R&D in different sectors, such as aerospace & defence engineering, automation, robotics & drones to the participants. The aim is to bring together best minds, best technologies and best practices while providing business and knowledge-sharing opportunities for its participants.