Defence Minister Rajnath Singh on Monday said the country's defence exports have scaled to "unprecedented heights" and crossed Rs 21,000 crore-mark for the "first time" in the history of Independent India.
As India moves towards becoming the third-largest economy in the next decade, it will need a robust defence-industrial complex to fulfil defence requirements at scale and quality. Its rise to a great power status must be accompanied by a significant decline in military imports and the rise of national defence champions.
Israel is a major trade partner for India and beyond that the two countries have ventured into a significant number of strategic, military and technology partnerships making them reliable allies of each other.
India is eager to join the exclusive club of countries who build and export fighter jets with the hope of consolidating strategic ties with buyer countries. India has been trying to pitch the Tejas, its indigenously built light-combat aircraft, to countries such as Argentina and Egypt. Its efforts to export fighter jets are aimed at trying to counter China s influence, and fighter jet deals are often marked by a characteristic secrecy since the aircraft is customised according to the buyer s special needs.