India is targeting defence exports worth $5 billion in the next five years in a bid to boost local manufacturing, Prime Minister Narendra Modi said Wednesday.
The country is the world's second-largest arms importer after Saudi Arabia, according to the Stockholm International Peace Research Institute, but Modi wants to turn that around under an ambitious "Made in India" initiative.
"In the last five years India has made remarkable progress in indigenising the production of military equipment," Modi said at the opening of a defence fair in Lucknow.
The five-day defence expo -- which will include demonstrations of land, naval, air and virtual security systems -- is being attended by manufacturers from France, the US and Russia, Delhi's biggest arms supplier.
India, which last year fought air battles with arch-rival Pakistan over disputed Kashmir, wants to bolster its combat capabilities to counter regional rivals including China.
Last year Indian officials said they were looking to spend $130 billion over five to seven years on defence.
Russia is India's main weapons supplier.
More than 1,000 firms -- including 172 foreign companies -- are expected to take part in the exhibition, the defence ministry said in a statement.
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Russia obtains ease on C.Africa arms embargo at UN Security Council
United Nations, United States (AFP) Jan 31, 2020
The UN Security Council on Friday approved a slight relaxation of the arms embargo on the Central African Republic, an issue that has been a source of friction between France and Russia. A resolution drafted by France that extends the embargo by only six months to July 31 was approved by 13 votes with Russia and China abstaining. It allows the CAR to acquire military vehicles mounted with up to 14.5mm weapons, provided the United Nations is notified ahead of time. According to the diplomats, ... read more
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