Uncategorized

Centre to encourage government-to-government deals to meet $5 billion military export target

In order to meet an ambitious target of $5 billion worth of military exports annually by 2025, the Centre will encourage government-to-government deals, using lines of credit to friendly foreign nations and branding of home developed products at international shows.

Spelling out its export promotion strategy, the defence ministry has marked out a target for Defence PSUs and the Ordnance Factory Board achieve 25% of their revenues from exports within the next five years in a draft policy.

The targets would be difficult to meet, specially for PSUs that depend on the Indian armed forces as their only customer, necessitating a series of steps that have been spelled out, including an even more proactive role for Indian missions abroad and an aggressive marketing campaign.

An active campaign to push through direct government deals would go a long way, along the model used by top exporters like Russia and the US. “Subject to strategic considerations

Facebook Comments

Source
ET News
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close