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SLOW AND STEADY: INDIAN ARMS EXPORTS JUMP SIX FOLDS
THURSDAY, OCTOBER 13, 2016 BY INDIANDEFENSE NEWS
The BRAHMOS Supersonic Cruise Missile has great prospects for defense exports for India
Aggressive diplomatic engagement along with export financing through line of credit has boosted India’s presence in the arms trade with countries located in East Asia and the Indian Ocean region.
New Delhi — India's ability to deliver defense equipment in a timely manner has attracted many small countries in last two years. According to the Indian government, defense exports have jumped six folds in in last two years only.
"The Make in India initiative has seen defense exports increase from $76 million to $450 million, though the ministry figures will show only $316 million. One reason for this is that exports of the aviation sector are not included in this as it has been delicensed."
Of late, India has focused to supply naval equipment like patrol vessels to East Asia and island nations of the Indian Pacific region. Some of the major defense equipment exported by India are patrol vessels, helicopters & their spares, sonars & radars, avionics, radar warning receivers (RWR), small arms, small caliber ammunition, grenades, and telecommunication equipment.
Parrikar has stated that exports may be much more than government's data as 65 per cent of defense sub-segments are de-licensed by the government now and are, therefore, not in the information list of the defense ministry.
"If we include the gains from the offset clause, our defense-related exports should be about $1 billion, out of which defense items alone are worth Rs 3,000 crore, which I hope to increase it to Rs 10,000 crore soon," Parrikar added.
To garner a larger share of defense exports in small countries, the Indian government has allowed public sector defense firms to export 10 percent of their total production.
Source>>
THURSDAY, OCTOBER 13, 2016 BY INDIANDEFENSE NEWS
The BRAHMOS Supersonic Cruise Missile has great prospects for defense exports for India
Aggressive diplomatic engagement along with export financing through line of credit has boosted India’s presence in the arms trade with countries located in East Asia and the Indian Ocean region.
New Delhi — India's ability to deliver defense equipment in a timely manner has attracted many small countries in last two years. According to the Indian government, defense exports have jumped six folds in in last two years only.
"The Make in India initiative has seen defense exports increase from $76 million to $450 million, though the ministry figures will show only $316 million. One reason for this is that exports of the aviation sector are not included in this as it has been delicensed."
Of late, India has focused to supply naval equipment like patrol vessels to East Asia and island nations of the Indian Pacific region. Some of the major defense equipment exported by India are patrol vessels, helicopters & their spares, sonars & radars, avionics, radar warning receivers (RWR), small arms, small caliber ammunition, grenades, and telecommunication equipment.
Parrikar has stated that exports may be much more than government's data as 65 per cent of defense sub-segments are de-licensed by the government now and are, therefore, not in the information list of the defense ministry.
"If we include the gains from the offset clause, our defense-related exports should be about $1 billion, out of which defense items alone are worth Rs 3,000 crore, which I hope to increase it to Rs 10,000 crore soon," Parrikar added.
To garner a larger share of defense exports in small countries, the Indian government has allowed public sector defense firms to export 10 percent of their total production.
Source>>
