India aims to triple defense exports to USD5bn by 2024/25

• India wants to more than triple annual defense exports to USD5bn by 2024/25 from USD1.5bn currently as it looks to ramp up domestic manufacturing, Prime Minister Narendra Modi said on Monday while inaugurating the Aero India show.
• The country is looking to sign defense deals worth USD9bn at the biennial five-day event, its biggest ever, as its airlines try to complete jetliner purchases to meet civilian demand and press global aircraft manufacturers to produce more locally, mainly through partnerships.
• India, for decades one of the world’s biggest importers of defense equipment, now exports to 75 countries, he added.
• India’s airlines are also expanding, with Tata Group’s Air India expected to announce a potentially record deal to buy nearly 500 jets from Airbus and Boeing, worth more than USD100bn at list prices.

External Link : https://asia.nikkei.com/Business/Aerospace-Defense-Industries/India-aims-to-triple-defense-exports-to-5bn-by-2024-25#:~:text=BENGALURU%20(Reuters)%20%2D%2D%20India%20wants,inaugurating%20the%20Aero%20India%20show