India’s Defense Exports Likely To Double This Year: Minister
India’s defense exports this year is likely to cross 1200 crores (US $185 million) double than porevious year’s exports.
“Export should be encouraged as we have friendly relations with many countries. These countries look towards India for their defense needs and if India does not give them the required equipment, it does not make you real friends,” Defense Minister Manohar Parrikar said Friday.
“Export not only gives you economic benefit but also enhances your friendship. Last year, (defense) export amounted to only Rs 630 crore approximately. This year, it should exceed Rs 1,200 crore,” Parrikar said.
He was speaking at Global Business Forum organized by the IIT Alumni Association at Bambolim on the outskirts of Panaji. The minister is a member of the association.
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