(MENAFN- Live Mint) The Ministry of External Affairs (MEA) on Thursday rejected reports claiming diversion of India's defence exports to Ukraine and termed them speculative and misleading.
“We have seen the Reuters report. It is speculative and misleading. It implies violations by Indi , where none exist and, hence, is inaccurate and mischievous,” the Ministry of External Affairs said in a statement.
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The Ministry further stated that India has a record of adhering to international commitments.
“India has an impeccable track record of compliance with international obligations on the export of military and dual-use items. India has been carrying out its defence exports taking into account its international obligations on non-proliferation and based on its own robust legal and regulatory framework, which includes a holistic assessment of relevant criteria, including end-user obligations and certifications,” the statement reads.
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According to a Reuters report on Thursday, the artillery shells sold by Indian defence makers have been diverted to Ukraine. Despite demand from Russia, India has intervened in the matter the report said citing eleven Indian and European government and defence industry officials and customs data.
This transfer of defence exports have been going on for more than a year, according to the report.
Russia has raised this issue twice before even during the July meeting between Indian Foreign Minister S. Jaishanka and his Russian counterpart Sergei Lavrov, the report said citing three government officials.
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According to government data, India's overall defence exports have reached a record high of ₹21,083 crore in FY24, a growth of 32.5% from ₹15,920 crore in FY23. The defence exports have surged 31 times in the last 10 years.
Both private sector and Defence Public Sector Undertakings (DPSUs), have contributed to the exports. The private sector has contributed 60% whereas the DPSUs have contributed 40%, the government said.
Further, number of export authorisations given to defence exporters have increased in FY24 to 1,507 from 1,414 export authorisations in FY23, according to government data.
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