Defence exports increased 700% in last three years: Gen. Bipin Rawat

‘We must move out of the constant threat of sanctions of dependency on individual nations for military requirements’, he says.

September 09, 2020 06:57 pm | Updated 07:31 pm IST - NEW DELHI:

Gen. Bipin Rawat

Gen. Bipin Rawat

In the last three years, the country witnessed a “staggering” 700% growth in defence exports - from ₹1,521 crore in 2016-17 to ₹10,745 crore in 2018-19, which is an all-time high and 19th in the list of defence exporters in 2019, according to Chief of Defence Staff (CDS) Gen. Bipin Rawat.

Quad should ensure Freedom of Navigation in Indian Ocean: Gen. Rawat

“We must move out of the constant threat of sanctions of dependency on individual nations for military requirements,” he said, talking of the huge defence imports, at a webinar by the Federation of Indian Chambers of Commerce and Industry (FICCI) on catalysing defence exports, on Wednesday.

“India is the third largest spender on defence around the world. It’s time to have a hard look at the distribution of our budget expenditure. We must carry out a realistic analysis of our expenditure. We are the only net importer in the category and account for 9.2% of global arms imports”, he noted.

With the aim to achieve a manufacturing turnover of $25 bn or ₹1,75,000 crore, including exports of $5 bn in aerospace and defence goods and services by 2025, in August, the Defence Ministry issued a draft ‘Defence Production & Export Promotion Policy (DPEPP) 2020’.

We share robust defence framework with both U.S. and Russia: Gen. Rawat

A series of measures had been taken since 2014 to boost exports, including simplified defence industrial licensing, relaxation of export control and grant of No Objection Certificates (NOC), Gen. Rawat pointed out.

MEA move

Specific incentives were introduced under the foreign trade policy. The Ministry of External Affairs (MEA) has facilitated a Line of Credit for foreign countries to import defence products. “Where feasible, defence exports can also be financed through the Exim Bank,” he observed.

Defence Attaches in Indian missions were empowered to promote defence exports which would also strengthen defence diplomacy, he stated.

Also read | Armed forces committed to hand-hold domestic defence industry: Gen. Bipin Rawat

Gen. Rawat acknowledged that the current Indian military fleet “comprises fair share of vintage platforms”, which were under modernisation plans in the coming decades. There was a plan to share some of these vintage platforms with domestic industry to assist in their research and development to develop cutting edge military technology, he added.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.