India on Thursday launched a four-day defence expo, at the capital New Delhi, aimed to showcase the country as an attractive destination for defence-related investments.
According to a defence ministry statement, a total of 624 companies from 30 countries are displaying weapon systems for the army, navy and internal security during the exposition.
The major countries participating in the event include Russia, France, Israel, Australia, Germany, South Korea, Spain, Turkey, the United Arab Emirates, Ukraine, UK and USA.
"Efforts are being made to accelerate the pace of indigenization in the defence sector," India's Defence Minister A K Antony said while speaking at the opening ceremony of the Land, Naval and Internal, Homeland Security Systems Exhibition, also known as Defexpo 2014.
Stating that the geo-political realities around India pose various kinds of security challenges, he said, India has always desired peace with all its neighbours but such peace cannot come at the cost of "our security concerns." "It is for this reason, we must ever be prepared to meet any challenge posed to our territorial integrity and sovereignty," he said.
Many products are expected to be launched by several local and foreign companies during the exhibition.
Several business-to-business meetings are also planned to be held on its sidelines.