ZCZC
BFF-34
INDIA-DEFENCE-ARMAMENT-POLITICS
Modi eyes arms export tag in ‘Made in India’ push
LUCKNOW, India, Feb 5, 2020 (BSS/AFP) – India is targeting defence exports
worth $5 billion in the next five years in a bid to boost local
manufacturing, Prime Minister Narendra Modi said Wednesday.
The country is the world’s second-largest arms importer after Saudi Arabia,
according to the Stockholm International Peace Research Institute, but Modi
wants to turn that around under an ambitious “Made in India” initiative.
“In the last five years India has made remarkable progress in indigenising
the production of military equipment,” Modi said at the opening of a defence
fair in Lucknow.
The five-day defence expo — which will include demonstrations of land,
naval, air and virtual security systems — is being attended by manufacturers
from France, the US and Russia, Delhi’s biggest arms supplier.
India, which last year fought air battles with arch-rival Pakistan over
disputed Kashmir, wants to bolster its combat capabilities to counter
regional rivals including China.
Last year Indian officials said they were looking to spend $130 billion
over five to seven years on defence.
Russia is India’s main weapons supplier.
More than 1,000 firms — including 172 foreign companies — are expected to
take part in the exhibition, the defence ministry said in a statement.
BSS/AFP/RY/1902 hrs