In an effort to boost domestic manufacturing of military hardware, Indian Prime Minister Narendra Modi reiterated his government’s promise to increase defense exports by more than 200 percent over the next three years.
At the beginning of the five-day Aero India show, Modi stated, “From about $1.5 billion in 2021-21, India targets to export $5 billion worth of military hardware by 2025.” He added that India has changed its laws to make it easier to invest in the defense industry, making it a “reliable defense partner.”
The government of India is pushing an ambitious plan to make the country a center for defense manufacturing. To boost local players, the nation has outlawed the import of more than 300 defense systems and subsystems.
However, efforts to become self-sufficient have been slow to take off. According to a report from the Stockholm International Peace Research Institute, India was the largest importer of arms from 2017 to 2021, accounting for 11% of all global purchases.
According to a statement issued by the Ministry of Defense, the air show, which is being held in the southern state of Karnataka, has attracted more than 800 exhibitors, including defense manufacturing giants such as Lockheed Martin Corp. and Boeing Co. from the United States, Europe’s Airbus SE, Safran SA, and Dassault Aviation SA.