India Arms Initiative: Boosting Exports with Global Ambitions

Prime Minister Narendra Modi is spearheading efforts to make India a major exporter of weapons and defense equipment. By expanding financing options and focusing on strategic markets, India aims to double its arms exports by 2029, targeting countries traditionally reliant on Russian and Western military technology.

India is ramping up efforts to establish itself as a leading exporter of defense equipment under Prime Minister Narendra Modi's leadership. With an ambitious goal to double arms exports to $6 billion by 2029, the country is leveraging the state-owned Export-Import Bank (EXIM) to offer long-term, low-cost loans to potential clients.

India's strategy involves negotiating arms deals directly and increasing the number of defense attachés stationed in foreign missions. These efforts particularly target nations that have historically depended on Russian military supplies, as Delhi seeks to capitalize on its unique position to absorb both Western and Russian defense technologies.

The plan marks a significant shift in India's defense export policy, as it seeks to penetrate markets in Africa, South America, and Southeast Asia. Recent deals, such as those with Armenia, highlight India's burgeoning presence in the global arms market, a position further supported by indigenous production of competitive and cost-effective military equipment.

(With inputs from agencies.)