With an aim strengthen India's position in the world,especially in the defence manufacturing sector, Prime Minister Narendra Modi on Wednesday said that the government expects to do arms and ammunition export business of Rs 35,000 crore in next five years.

In his address at the inaugural ceremony of the DefExpo 2020 in Lucknow, in which representatives of 40 countries are participating, PM Modi said: "There are unlimited possibilities in defence manufacturing inIndia. There is talent and there is also technology, there is innovation andthere is also infrastructure, there is favourable policy and there is alsoprotection of foreign investment. Here is Demand, Democracy and alsoDecisiveness."

He also said that it is also India's responsibility toprovide security to friendly countries apart from providing humanitarian reliefduring crisis.

About the exhibition, he said: "This Expo is Indiabiggest exhibition. This Expo has registered itself among the world top 100Expos.

"In order to give further impetus to defencemanufacturing in India, new targets have been set. Our goal is to bring the numberof MSMEs in the field of defense production beyond 15,000 in the next fiveyears," he said.Modi said that Uttar Pradesh is among the largest statesin the country and in the coming times, it is also going to be one of thelargest hubs of defence manufacturing in the country.

"In such a situation, this first defense expo of thenew decade will be here. It is a matter of happiness in itself," he said.Thistime, over 1,000 defence manufacturers and 150 companies from all over theworld are taking part in the DefExpo.Apart from this, Defence Ministers of morethan 30 countries and business leaders are also present.The Prime Minister saidthat Make in India will increase India's security at the same time, newemployment opportunities will also be created in the defence sector.

"Technology can be misused through terrorism or cyberthreat. These are big challenges for the whole world. In view of the newchallenges, all the defence forces of the world are developing new technology.India is not untouched by this," he said.

Noting that earlier 217 defence licenses were given, Modisaid that in last four years, 460 defence licenses have been given. "Be itartillery guns, aircraft carrier, frigates, submarines, Light Combat Aircraft,combat helicopters, many such accessories are being made in India today,"he said.

The Prime Minister also said that earlier defence export wasto the tune of Rs 2,000 crore but in last two years it has risen to Rs 17,000crore. "After 2014, policy reforms were done and it can be seen that thedefence sector is reaping the benefit," he said.