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The official release noted that India's defence manufacturing has reached unprecedented levels with indigenous production hitting Rs 1.27 lakh crore in FY 2023-24 and exports climbing to Rs 23,622 crore in FY 2024-25 — marking a 34-fold increase from 2013-14 levels.
India has developed the 'Akash Missile System', which functions like Israel's 'Iron Dome'. During the Astrashakti 2023 exercise, the system demonstrated its ability to engage and destroy four unmanned targets using a single-firing unit. This was a significant milestone, as India became the first country to achieve this feat. The system uses command guidance to engage targets within a range of 25 kilometers. Additionally, India has secured a contract worth Rs. 6,000 crore to export the defense system to Armenia. Several other nations, including the Philippines, Vietnam, Egypt, and Brazil, have shown an interest in acquiring the Akash Missile system. To gain a better understanding of the system's features and how it operates, please watch the accompanying video.
The Akash-NG missile, that can intercept high manoeuvring aerial threats, could 'intercept the target with textbook precision' during the test fire, the DRDO said.
Cabinet has also approved the export of Akash Missile System.
LR-SAM and Akash missile system orders could be nearly worth USD 2 billion, adding roughly Rs 13,000 crore to total orderbook in the coming quarters, says MV Gowtama, Chief Managing Director of BEL.
Citi believes Bharat Electronics (BEL) can deliver 15 percent EPS CAGR over FY16-19, given the expected order inflows and guidance announced by management.
