India has been making various efforts to improve its home-grown defence equipment since Narendra Modi’s government came to power in 2014. Besides, liberalising export rules, the Modi government has offered loans to countries such as Myanmar and the Maldives – among others – which are crucial for New Delhi to stall the growing presence of China.
Indian Prime Minister Narendra Modi has asked his country’s defence manufacturers to focus on countries which are worried about their security in the present geo-political world. Speaking with manufacturers on Monday, Modi said that more than 100 pieces of defence equipment have been banned from import and more items will find their way on to this “negative list”.
At present, Modi said, India exports defence products to more than 40 countries adding that these exports include low-value ammunition, spares, aerospace components and naval equipment such as sonar.
Earlier in the day, Indian defence minister Rajnath Singh said that the Ministry of Defence has set a target of $25Bln turnover including $5Bn exports in aerospace and defence goods and services by the year 2024. India also planned to spend $130Bn on military modernisation in the next five years.
To achieve the ambitious $5Bn target for exports, the Indian Ministry of Defence cleared 156 defence items for export, including some of country’s most advanced weapon systems such as BrahMos supersonic cruise missiles, the Advanced Towed Artillery Gun System (ATAGS), Pinaka…