Moneycontrol PRO
HomeNewsTrendsCurrent AffairsMade-in-India Tejas for Malaysian Air Force? India emerges as top contender for fighter jet order

Made-in-India Tejas for Malaysian Air Force? India emerges as top contender for fighter jet order

Indian government has set an annual export target of $5 billion, or Rs 36,500 crore by 2025.

June 23, 2022 / 09:56 IST
Source: Twitter/@IAF_MCC

India has emerged as the top contender for a Malaysian requirement of Light Combat Aircraft (LCA) with a package deal that would include maintenance and spares for the nation’s Russian-origin Su 30 fighter jets, the Economic Times reported on June 23.

The Malaysian air force is looking to buy 18 new light fighter jets.

India is offering an appealing package for LCA Tejas for this deal. It has committed that it can keep Malaysia’s fleet of 18 Su 30 MKM jets flightworthy, given the vast spares reserve and technical expertise available with Hindustan Aeronautics Limited (HAL), the report noted.

The Tejas is an indigenously developed, single-engine, fourth-generation, high-agility, multirole, supersonic light combat aircraft.

One thing where India has the upper hand in its bid is that the other contenders - primarily South Korea and China - do not have backend contracts with Russian manufacturers to work on the Sukhoi fighters, it said.

India has priced LCA Tejas at around $42 million per unit for the package.

It is to be noted that the Indian government has set an annual export target of $5 billion, or Rs 36,500 crore by 2025.

The value of defence exports by India has grown approximately by six times since 2014, with the ongoing financial year registering Rs 11,607 crore till 21 March, according to Union Minister of State in Ministry of Defence Ajay Bhatt.

Moneycontrol News
first published: Jun 23, 2022 09:56 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347