New Delhi: The Government of India could final the deal to sell of BrahMos missile to the Philippines on January 28. India is selling BrahMos cruise missiles to the Philippines, which were co-developed with Russia. The contract is expected to be signed on January 28 at the Philippines’ National Defence Department headquarters in Quezon City. This 375 Million dollar deal is a game-changer since India isn’t buying anything. Rather, India is selling high-end weapons produced in India to another country.
By 2025, the government has set an ambitious goal of exporting aerospace and defense items and services worth over 35,000 crores ($5 billion). Aakash air-defense missiles are being transferred to Vietnam as part of a similar agreement.
According to the report, From 1,521 crore in 2016-17 to 8,434.84 crore in 2020-21, India’s defense exports increased massively in the last few years. In 2018-19, the number was Rs. 10,745 crore.
After striving to get specialized weapon locating radars (WLRs) from the United States and Israel in the 1990s, India is now exporting them to Armenia in a $40 million agreement.
According to the most recent Stockholm International Peace Research Institute (SIPRI) research, three Indian firms rank among the top 100 defense corporations in the world in 2020: Hindustan Aeronautics Limited (HAL), Ordnance Factory Board, and Bharat Electronics Ltd. (BEL). “Their combined arms sales of $6.5 billion in 2020 were 1.7 percent higher than in 2019 and contributed for 1.2 percent of the top 100 total.
(_Vinayak Barot)
