Bengaluru: Asia's premier air show, "Aero India", took off on Wednesday with global armament majors eyeing the multi-billion dollar Indian defence market, seeking to align with the "Make in India" campaign of the Narendra Modi government.P

The Air Force Station at Yelahanka in the IT city is hosting the 10th edition of the biennial five-day international edition of the aerospace and aviation exhibition. Over 300 foreign firms along with 54 ministerial and other high-level delegations from several countries are taking part in this year's event, said to be the largest ever air show to be hosted so far in India.

The mega defence event was inaugurated by Prime Minister Narendra Modi who said that this was a platform to launch India's defence manufacturing sector.

The US with 64 companies will have the largest presence at the show in which 33 other countries are taking part. Behind the US is France with 58 companies, UK 48, Russia 41, Israel 25 and Germany 17, organisers said.
Seven of the 11 foreign military aircraft on display will be American – two F-15C Eagles, two F-16C Fighting Falcons, one Boeing KC-135 tanker, one C-17 Globemaster III and a P-8A Poseidon maritime surveillance aircraft.

Three Rafale fighters of French giant Dassault- shortlisted for acquisition by the IAF – will fly aerobatics displays. Negotiations over the deal for 126 aircraft are facing rough weather with efforts underway to resolve it.

India's Light Combat Aircraft "Tejas" will be participating in the formation flight display, Defence Research and Development Organisation officials said.

Here are the highlights of Narendra Modi's speech:

We want to develop an industry that is dynamic. It should constantly stay at the cutting edge of the global industry
Our defence industry will succeed more if we can transform the manufacturing sector in India
This is the beginning of a new era for the defence industry in India
We must ensure that our tax system does not discriminate against domestic manufacture in comparison to imports
We must involve our scientists soldiers, academia, industry and independent experts more closely in research and development
Have introduced significant reforms in our offsets policy. Am acutely aware that it still needs a lot of improvements. Will pursue them.
We are focusing on developing India's defence industry with a sense of mission. This is why it is at the heart of ‘Make in India’ programme.
If we could raise percentage of domestic procurement from 40% to 70% in next 5 years we would double the output in our defence industry
Studies show that even a 20 to 25% reduction in imports could directly create additional 100,000 to 120,000 highly skilled jobs
I am delighted to participate in the 10th edition of Aero India
This is the largest-ever Aero India. This reflects a new level of confidence within our country & global interest in India
Aero India is an important global event, this is not just a trade fair
This is a mega meeting of one of the largest global supply chains with the most advanced technology and complex equipment
We have to equip ourselves for the needs of the future, where technology will play a major role
We do need to increase our defence preparedness. We do have to modernise our defence forces
This is a platform to launch India's defence manufacturing sector