https://sputniknews.in/20230721/huge-export-potential-for-indian-defense-equipment-in-latin-america-military-veteran-3121754.html
Huge Export Potential for Indian Defense Equipment in Latin America: Military Veteran
Huge Export Potential for Indian Defense Equipment in Latin America: Military Veteran
Sputnik India
Indian weapons platforms have a huge scope for exports in Latin American nations, a military veteran has said.
2023-07-21T16:43+0530
2023-07-21T16:43+0530
2023-07-21T16:43+0530
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Indian weapons platforms have a huge scope for exports in Latin American nations, a military veteran has said.The remarks of Major General (Retd.) Sanjay Soi, who spent more than three decades in the Indian Army, come hours after Argentinian Defense Minister Jorge Enrique Taiana's four-day visit to New Delhi wherein there was an intense buzz about Buenos Aires' increasing interest in acquiring military hardware from the South Asian country.Buenos Aires to Purchase LCH Prachand From HAL?According to several reports, Argentina has shown keen interest in purchasing multiple units of the Brahmos missile systems, 16 Light Combat Aircraft Tejas, and at least 20 Light Combat Helicopters named Prachand (Fierce) from India. An Argentine media outlet even went on to state that the South American country was close to signing the acquisition of 20 Prachand helicopters with deals for Brahmos missiles and LCA Tejas to follow suit.The overall value of these deals is estimated to be well over $1 billion. While Brahmos missiles are manufactured by Brahmos Aerospace, an Indo-Russian joint venture, Tejas and Prachand are built by the state-run Hindustan Aeronautics Limited (HAL).Incidentally, during his recent sojourn in India, the Argentine defense minister took a tour of the HAL headquarters in Bengaluru before interacting with the company's top rank and file.Following the visit, Soi stated that India already has an excellent relationship with Latin American countries and New Delhi's trade and commerce relations with nations like Argentina were going up by leaps and bounds. According to the former Indian Army officer, New Delhi's trade, including defense exports to Latin America has a huge scope because it consists of 19 countries, over 600 million population and a GDP worth almost $6 trillion.Increasing India's Exports to Latin America In this scenario, he noted, with India's healthy diplomatic relations, exports to Latin America are set to witness significant growth in the next couple of years. Soi observed that India is now targeting exports of arms and ammunition to Latin American countries with a high level of intensity. The defense expert pointed out that the relationship with Latin American countries will help India economically as well as on the diplomatic front.He underlined that historically, India and Argentina share a long history of friendship. Even before India's independence in 1947 from the British rule, the two nations had warm ties.Long Way to Go For IndiaAs per Soi, even though India is emerging as a major player in the defense sector, there is still a long way to go and much to do. Overall, 90 percent of global arms exports are carried out by the dominant players in the defense industry, which are the US, and Western nations like the UK, France, and Russia to a major extent.
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Huge Export Potential for Indian Defense Equipment in Latin America: Military Veteran
India's exports of defense products stood at an underwhelming $82 million a decade ago before skyrocketing to almost $2 billion last fiscal year.
Indian weapons platforms have a huge scope for exports in Latin American nations, a military veteran has said.
The remarks of Major General (Retd.) Sanjay Soi, who spent more than three decades in the Indian Army, come hours after Argentinian Defense Minister Jorge Enrique Taiana's four-day visit to New Delhi wherein there was an intense buzz about Buenos Aires' increasing interest in acquiring military hardware from the South Asian country.
Buenos Aires to Purchase LCH Prachand From HAL?
According to several reports, Argentina has shown keen interest in purchasing multiple units of the
Brahmos missile systems, 16 Light Combat Aircraft Tejas, and at least 20 Light Combat Helicopters named Prachand (Fierce) from India.
An Argentine media outlet even went on to state that the South American country was close to signing the acquisition of 20 Prachand helicopters with deals for Brahmos missiles and LCA Tejas to follow suit.
The overall value of these deals is estimated to be well over $1 billion.
While Brahmos missiles are manufactured by Brahmos Aerospace,
an Indo-Russian joint venture, Tejas and Prachand are built by the state-run Hindustan Aeronautics Limited (HAL).
Incidentally, during his recent sojourn in India, the Argentine defense minister took a tour of the HAL headquarters in Bengaluru before interacting with the company's top rank and file.
Following the visit, Soi stated that India already has an excellent relationship with Latin American countries and New Delhi's trade and commerce relations with nations like Argentina were going up by leaps and bounds.
"In fact, last year, India exported more than $22.2 billion worth of goods to Latin American countries and in the next five years, this could jump to $50 billion," Soi told Sputnik on Friday.
According to the former Indian Army officer, New Delhi's trade, including
defense exports to Latin America has a huge scope because it consists of 19 countries, over 600 million population and a GDP worth almost $6 trillion.
Increasing India's Exports to Latin America
In this scenario, he noted, with India's healthy diplomatic relations, exports to Latin America are set to witness significant growth in the next couple of years.
Soi observed that India is now targeting exports of arms and ammunition to Latin American countries with a high level of intensity.
He added that countries of Latin America, Southeast Asia and other regions were not only interested in procuring the Brahmos missiles, Tejas fighter jets, or light combat helicopters from India. Some nations have even evinced interest in Pinaka multi-barrel rocket launchers, radars, and simulators. And India was planning to sell all these in South America, Africa and other regions.
The defense expert pointed out that the relationship with
Latin American countries will help India economically as well as on the diplomatic front.
He underlined that historically, India and Argentina share a long history of friendship. Even before India's independence in 1947 from
the British rule, the two nations had warm ties.
As per Soi, even though India is emerging as a major player in the defense sector, there is still a long way to go and much to do.
"India has to come out with a different range of defense products for exports, then only we can be a big player in the international market. About exports of military hardware, we have done well in the last few years, but we are nowhere close to countries like the US, Russia, France, etc," he elaborated.
Overall, 90 percent of global arms exports are carried out by the dominant players in the defense industry, which are the US, and
Western nations like the UK, France, and Russia to a major extent.
"But the quality of Indian weaponry has improved a lot in recent years and that's why there is a lot of potential for New Delhi to push for exports to foreign nations, particularly to Latin America," Soi concluded.
