Indian Companies Eye Defence Exports To The Philippines


(MENAFN- Live Mint) "New Delhi: Indian defence companies including Kalyani Strategic Systems, Larsen and Toubro Ltd, and Hindustan Aeronautics are looking to sell their military platforms to the Philippines, two people aware of the matter said Philippines, which is restructuring its military to face an aggressive China, recently purchased the BrahMos cruise missile from India. In 2022, the two countries had signed an agreement for India to provide three BrahMos batteries to the Philippines for an estimated $375 million Indian defence companies have offered systems ranging from protective gear to fighter jets, the people cited above said on condition of anonymity.“Nigeria, Philippines and Egypt are keen to procure Tejas Light Combat aircraft,” HAL chairman CB Ananthakrishnan was quoted as saying on the sidelines of an event. The Tejas is an indigenously designed, multi-role, fighter aircraft which has also been inducted into the Indian Air Force in rising numbers had earlier reported that officials from the Philippines have visited a number of Indian defence firms to examine their offerings. While conversations are currently in early stages, officials indicated that deals may be signed in the second half of 2024 mailed to Kalyani Strategic Systems and Larsen and Toubro remained unanswered.A meeting of the foreign ministers of the two countries earlier this year laid special emphasis on defence cooperation. A joint statement released at the end of the meeting outlined interactions among defence agencies, opening of a resident defence attaché office in Manila, a concessional line of credit for Philippines' defence requirements, acquisition of naval assets, and expansion of training and joint exercises equipment, India has offered assistance in hydrography and maritime affairs.“Acknowledging the growing importance of the maritime sector for both countries, both ministers welcomed the bilateral Maritime Dialogue and the increased cooperation on hydrography,” reads the same joint statement aims to triple its annual defence exports to $5 billion by 2024-2025.

MENAFN10122023007365015876ID1107566547


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.