Indian Economy News

Indian companies eye defence exports to the Philippines

  • IBEF
  • December 11, 2023

Prominent Indian defence firms, including Kalyani Strategic Systems, Larsen and Toubro Ltd, and Hindustan Aeronautics, are exploring opportunities to market their military platforms to the Philippines, according to sources familiar with the matter.

During the Philippines' military restructuring efforts to address regional security concerns, particularly in response to heightened tensions with China, the country recently procured the BrahMos cruise missile from India. Underlining the collaborative defence efforts, a 2022 agreement saw India supplying three BrahMos batteries to the Philippines at an estimated cost of US$ 375 million.

The Indian defence entities have proactively proposed a spectrum of offerings, encompassing protective gear to advanced fighter jets, signalling a broad range of potential collaborations between the two nations, as shared by the sources under conditions of anonymity.

Interest in procuring Tejas Light Combat aircraft has been expressed by Nigeria, the Philippines, and Egypt, as stated by HAL Chairman Mr. CB Ananthakrishnan on the sidelines of an event. The Tejas, a domestically designed multi-role fighter aircraft, has witnessed increasing induction into the Indian Air Force. Beyond equipment provisions, India has extended assistance in hydrography and maritime affairs. In alignment with its strategic goals, India aims to triple its annual defence exports to reach US$ 5 billion by the fiscal year 2024-2025.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.