India aims to triple defence exports to $5 bn, sell fighter jets, choppers

Prime Minister Narendra Modi on Monday set out ambitions to more than treble annual defence exports to $5 billion over the next two years, as arms firms flocked to Aero India for a slice of the nation’s massive import budget. “The country, which was the biggest defence importer for decades, is now exporting defence equipment to 75 countries of the world,” he said.

Modi said India’s defence exports have increased six times in the last five years and that it has crossed the figure of $1.5 billion in its exports. “Our target is that by 2024-25, we will increase this export figure from 1.5 billion to 5 billion dollars,” he said.