The export ambitions are a sign of New Delhi's growing clout. Read more at straitstimes.com.
BENGALURU - Indian Prime Minister Narendra Modi on Monday set out ambitions to more than triple annual defence exports to US$5 billion over the next two years, as arms firms flocked to a major air show for a slice of the nation’s massive import budget.
Its airlines are also trying to complete jetliner purchases to meet civilian demand and press global aircraft manufacturers to produce more locally, mainly through partnerships.However, it has punched below its weight in the global arms export market. “Today, India is not just a market for defence companies, it is also a potential defence partner,” Mr Modi said in a speech at the show. “I call on India’s private sector to invest more and more in the country’s defence sector.”Past Indian exports include Hindustan Aeronautics Dhruv helicopters to the Philippines, Mauritius and Ecuador and Russia-India venture BrahMos Aerospace’s supersonic cruise missiles to the Philippines. HAL has also offered its Tejas light fighter jet for sale to Malaysia.
The air show aims to promote exports of indigenous air platforms such as Tejas, Dhruv, HTT-40 training aircraft, Dornier light utility helicopter and the light combat helicopter.India also wants smaller domestic companies and start-ups to make parts for large defence products globally as well as to attract foreign investment for joint product development and production.
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