New Delhi - South Asia's largest air show began in Bangalore Wednesday with nearly 600 defence and aerospace companies from 26 countries displaying their frontline aircraft and hardware to compete for multi-billion-dollar contract opportunities in India.

Aero India 2009, inaugurated by Defence Minister AK Antony at an Indian Air Force base in the southern city, got off to a roaring start with an exciting aerobatic display by fighter jets, helicopters and jet trainers.

Despite the slowing economy, India will not compromise on modernization of its forces, Antony said in a speech at the function. The country is expected to spend up to 30 billion dollars to upgrade its defence forces over the next five years.

"Our defence expenditure at present is about 2.5 per cent of our Gross Domestic Product (GDP) in keeping with out security interests," Antony said.

"Despite the economic recession, there is no question of scaling down our defence expenditure and compromising with our ongoing acquisition programme," he added.

The focus of the show will be on six major aeronautical firms from United States, Europe and Russia vying to bag the Indian Air Force's 12-billion-dollar contract for 126 multi-role combat jets.

Major players, including Boeing and Lockheed Martin from the US, the Russian Aircraft Corp (RAC), Europe's Airbus Industrie, Sweden's Gripen and France's Dassault Aviation, are in the fray for the deal.

India is also looking to buy various defence items from the global market, including 197 light utility helicopters, reconnaissance aircraft and choppers and various types of artillery systems, radars and sensors valued at billions of dollars for its military.

According to the Defence Ministry, although rival Pakistan was not invited to the biennial event, China will participate for the first time with a 10-member delegation.

In all, 592 companies, 303 of them international firms, are participating in the Aero India event, now in its seventh edition. Germany and France are the leading international participants with 31 firms each.

Twenty-six British, 24 Russian, 22 US and 19 Italian and 11 Israeli companies were also present.

Aerospace companies have flown in a number of top-end jets, transport planes, helicopters and unmanned aerial vehicles for flying and static displays.

Major Indian participating agencies in the show are Aeronautical Development Agency, Hindustan Aeronautics Limited and the National Aerospace Laboratories.

"Growing in stature, size and public participation, the air show has emerged as the most important event in South Asia, drawing global attention," Defence Production Secretary Pradeep Kumar said.

He said 500 business-to-business discussions had been planned during the show. Defence ministers from France, Peru, Bolivia, Surinam, Oman and Maldives would attend the show.

Some 125,000 visitors including 50,000 business delegates were expected at the show, Kumar said.

To provide foolproof security and prevent any terrorist attacks, the venue has been turned into a fortress with a three-tier security ring that includes special commandos. Personnel from the military and paramilitary have also been deployed to maintain a tight vigil at the event. (dpa)