You are here: Home » PTI Stories » National » News
Business Standard

India has authorised export of defence products to 42 countries: Naik

Press Trust of India  |  New Delhi 

The Centre has authorised companies to export military equipment to 42 countries across the world, including the UAE, Sweden and Singapore,

Minister of State for Defence Shripad Naik said on Monday.

In a written reply to a question in the Rajya Sabha, he also said India's defence exports have increased seven-fold in the last two years from Rs 1,521 crore in 2016-17 to

Rs 10,745 crore in 2018-19.

The minister said 79 companies invested over Rs 1,834 crore through the foreign direct investment (FDI) route in defence and aerospace sector after 2014.

Australia, Finland, Germany, Israel, USA, Spain, Saudi Arabia and Sri Lanka are among the 42 countries for which defence companies in India have received "export authorisation", Naik said.

Export of Dornier Do 228 aircraft and coastal surveillance system to Seychelles has received authorization from India, he said.

Companies have also been authorised by the Indian government to export helmets, bomb suppression blankets, soft armour panels and cartridges to Germany, the minister explained.

The Centre has given its approval to export passive night vision devices to Finland; and export mine protected vehicles, over-vests, helmets, soft armour panels and civil helicopter protection equipment to the United Arab Emirates (UAE).

Bulk memory control cards, power supply are among the equipment that are authorised for export to Sri Lanka from India, Naik stated.

Radar distribution cards, amplifiers and spare parts for radar systems are among the devices that have been authorised for export to Singapore, he said.

Companies have also been authorised to export 155*52mm calibre barrel artillery system to Sweden, and helmets, hard armour panels, soft armour panels and other equipment to the USA, he said.

The minister added that "defence exports in the country have grown seven-fold in the last two years from Rs 1,521 crore in 2016-17 to Rs 10,745 crore in 2018-19".

Talking about FDI in defence sector, Naik said according to the data furnished by 79 companies operating in defence and aerospace sector, the "FDI inflows of over Rs 1,834 crore have been reported after 2014 under both government and automatic route".

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 10 2020. 22:38 IST