Revving up arms sales
Business Standard|October 04, 2024
Four strategies to accelerate India's defence exports
AJAI SHUKLA
Revving up arms sales

Ministry of Defence (MoD) data indicates that India's defence exports reached a record ₹22,000 crore ($2.63 billion) in 2023-24. This amounts to a startling 31-fold growth over the past decade since 2013-14. Exports growth is showing no signs of diminishing either. Rather, exports have risen 32.5 per cent over the previous financial year (2022-23). And in the first quarter of 2024-25, defence exports surged to ₹6,915 crore - a 78 per cent increase over the ₹3,885 crore exported in the same period the previous year.

Last Monday, defence exports got another boost. An Indian private defence manufacturer, Tata Advanced Systems Limited (TASL), announced an agreement with Morocco's Royal Armed Forces for assembling armoured troop carriers - referred to as wheeled armoured platforms, or WhaP8x8 - in a new manufacturing unit in Casablanca, Morocco. This will be the first defence manufacturing plant established outside India by an Indian defence original equipment manufacturer and Morocco's first large-scale defence manufacturing plant. Given the WhaP's size, protection, versatility and affordability, it is expected to present an attractive buy for African militaries that are combating insurgencies. TASL regards Morocco as a launch customer for cracking the African arms bazaar.

The sharp uptick in India's defence exports is due partly to our migration up the valuation ladder. As recently as a decade ago, India's defence exports consisted mainly of low-cost ammunition and weaponry. Today, New Delhi is pursuing the sale of high-value weapons platforms, such as the Tejas light fighter aircraft, Pinaka multi-barrel rocket launchers and even the sophisticated BrahMos surface-to-surface cruise missile, to East Asian customers such as Vietnam, Malaysia and the Philippines. The sale of one unit of BrahMos is estimated to be worth about $365 million - approximately the same as an entire year's defence export sales a decade ago.

この記事は Business Standard の October 04, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Business Standard の October 04, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

BUSINESS STANDARDのその他の記事すべて表示
Trade on road to recovery but Indian firms tread cautiously
Business Standard

Trade on road to recovery but Indian firms tread cautiously

The concluding part of the series highlights stabilising trade ties with Dhaka, but payment delays anda complex bilateral environment remain major concerns

time-read
4 分  |
October 05, 2024
Business Standard

DoT launches new system to block fraud international calls

The Department of Telecommunications (DoT), in collaboration with Telecom Service Providers (TSPs), has introduced an advanced system designed to identify and block incoming international spoofed calls before they can reach Indian telecom subscribers.

time-read
1 min  |
October 05, 2024
PM to launch infra projects, agri schemes in Maha today
Business Standard

PM to launch infra projects, agri schemes in Maha today

Prime Minister Narendra Modi will on Saturday inaugurate infrastructure projects worth ₹32,180 crore in election-bound Maharashtra.

time-read
1 min  |
October 05, 2024
The shrinking presence of smaller parties in Haryana Assembly polls
Business Standard

The shrinking presence of smaller parties in Haryana Assembly polls

Since 2014, Haryana's electoral politics has seen smaller parties cede their vote shares to the Bharatiya Janata Party (BJP) and the Congress, a trend that these political parties would hope to buck in this Assembly polls.

time-read
1 min  |
October 05, 2024
Business Standard

DMart stock slips despite strong showing in Q2

Mixed response from brokerages; company had 377 stores till Sep 30

time-read
2 分  |
October 05, 2024
Business Standard

Jio Fin-BlackRock JV gets Sebi approval for MF entry

Jio Financial Services' joint venture with BlackRock to enter the mutual fund (MF) space in India has received the nod from the Securities and Exchange Board of India (Sebi), the firm stated in an exchange filing on Friday.

time-read
1 min  |
October 05, 2024
Business Standard

HDFC BANK'S MSCI WEIGHT SET TO RISE

India's largest private sector lender HDFC Bank is poised to see its weighting increase further in global services provider MSCI indices due to its expanded foreign portfolio investor (FPI) investment headroom.

time-read
1 min  |
October 05, 2024
"The mother of all bear mkts in equities is dead"
Business Standard

"The mother of all bear mkts in equities is dead"

Developments in West Asia have triggered a panic-like situation across global equity markets. SHANKAR SHARMA, founder of wealth management firm GQuant Investech, spoke with Puneet Wadhwa in New Delhi about escalating tensions between Israel and Iran. Edited excerpts:

time-read
3 分  |
October 05, 2024
Business Standard

Higher e-auction share crucial for Coal India stock

Coal India (CIL) has reported a production of 51 million tonnes (mt) for September, up 10.4 per cent month-on-month (M-o-M), but down 1 per cent year-on-year (Y-o-Y).

time-read
2 分  |
October 05, 2024
Business Standard

Sebi proposes measures to boost retail participation in G-Sec mkt

The Securities and Exchange Board of India (Sebi) is considering initiatives to promote retail participation in government securities (G-Secs) through stock brokers.

time-read
1 min  |
October 05, 2024