At the Defence Expo held in Lucknow recently, Prime Minister Narendra Modi exhorted Indian manufacturers to double defence exports to $5 billion (Rs 37,000 crore) over the next five years. Around the same time, reports indicated that a major private sector company aspiring to become a producer of military platforms had gone into liquidation, forcing the government to en-cash all its bank guarantees.
These two developments are incongruous and require some discussion. In 2011, the Indian Navy placed an order for five Offshore Patrol Vessels (OPVs) with a private sector entity, the ...
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First Published: Thu, February 13 2020. 23:51 IST
