HomeNewsIndiaIndia emerged as leading defence exporter in recent years; could fulfill Africa's maritime, aerospace and defence requirements: Exim Bank report

India emerged as leading defence exporter in recent years; could fulfill Africa's maritime, aerospace and defence requirements: Exim Bank report

The report by India Exim Bank, titled ‘Reinvigorating India’s Economic Engagements with Southern Africa’, was released at the inauguration of the CII-Exim Bank Regional Conclave on India-Southern Africa Growth Partnership

November 01, 2022 / 14:18 IST
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India has emerged as a leading defence exporter in recent years and could fulfill Africa's maritime, aerospace and defence requirements, with Mauritius, Mozambique and Seychelles becoming the major buyers of Indian arms during 2017-2021, according to a research report released here.

The report by India Exim Bank, titled ‘Reinvigorating India’s Economic Engagements with Southern Africa’, was released at the inauguration of the CII-Exim Bank Regional Conclave on India-Southern Africa Growth Partnership, where government officials and captains of business and industry are meeting on Tuesday to discuss a wide range of areas of potential cooperation.

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The report also suggested a shift from India’s current approach to India's defence and security cooperation with Africa and other developing countries, which remains need-based and focuses on empowering through training, capacity building, and humanitarian assistance.

“Increased cooperation in areas of aerospace, defence, maritime equipment and vessels can ensure security and enhance technological capacity of Africa and at the same time accelerate India's defence export target of achieving USD 5 billion by 2025,” the report said.