PremiumPrime Minister Narendra Modi has given the target of achieving USD 5 billion in defence exports by 2025, said BrahMos Aerospace Chairman Atul D Rane, adding that they are hoping for more orders from the Philippines.
Prime Minister Narendra Modi has given the target of achieving USD 5 billion in defence exports by 2025, said BrahMos Aerospace Chairman Atul D Rane, adding that they are hoping for more orders from the Philippines.
He also said BrahMos Aerospace is hoping that it should alone be able to achieve that figure by that time.
“We are hoping to get more orders from the Philippines and we are talking to Vietnam, Malaysia and many other countries for exports," Rane was quoted by ANI.
Defence Minister Rajnath Singh said that India registered defence exports worth ₹8,000 crore in six months of the current financial year. He was speaking at the curtain raiser event of DefExpo, that is taking place from October 18 to 22, in Gandhinagar yesterday, Monday.
The minister also said that India's defence sector registered exports worth ₹30,000 crore after 2014 when the Narendra Modi government came to power at the Centre.
"Before 2014, we used to achieve (defence) exports of ₹900-1,300 crore. After all these years, we have achieved exports worth more than ₹30,000 crore to date. We can add another ₹8,000-9,000 crore of the export target (this year)," Singh said as quoted by PTI.
The theme of 12th DefExpo is ‘Path to Pride’ which is in line with PM Modi’s vision to transform India into a strong and self-reliant nation by supporting, showcasing and forging partnerships for the Indian Aerospace and Defence manufacturing sectors with Indian as well as global customers.
The India Pavilion - a marque pavilion of Department of Defence Production, Ministry of Defence - will showcase the maturity of indigenous defence products, start-ups, latest technology, including Artificial Intelligence in defence, and will present India’s vision for 2047. It has been named ‘Path to Pride’.
The DefExpo 2022 will also mark the celebration of one year of the formation of the seven new defence companies, carved out of the erstwhile Ordnance Factory Board. All these companies will be participating for the first time at DefExpo.
(With inputs from agencies)