As many as 451 Memorandums of Understanding (MoUs) and agreements worth Rs 1.53 lakh crore were signed during the Defence Expo or DefExpo 2022 at Gandhinagar, a senior official said. During the valedictory function of the 12th edition of DefExpo at the Mahatma Mandir convention centre, Defence Secretary Ajay Kumar informed the audience that it had broken previous records in terms of business generation.

"This was the most outstanding defence expo ever. It saw the highest number of exhibitors, which is in addition to tens of thousands of business visitors. The extent of business this defence expo has generated has surpassed all the previous records," said Kumar.

Defence Minister Rajnath Singh and Gujarat Governor Acharya Devvrat were among those present on the dais during the function. "In the last defence expo, which was held in 2020 in Lucknow, 201 MoUs were signed.

I am happy to report that today, 451 MoUs and agreements were signed. It involves an estimated amount of Rs 1,53,000 crore," said Kumar. MoUs and agreements were signed between "industry and industry, industry and state governments and industry and central government," he said.

The 12th edition of Defence Expo was the best to date and heralded an era of empowerment for the Indian defence sector, said Union minister Singh. "This is the beginning of self-reliance in the Indian Defence sector. This expo has shown that the future belongs to India. This expo has also shown that India will become a global defence manufacturing hub," Singh added.