The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the export of Akash Missile System.
Singh said that a committee has also been created for faster approvals .
“The Cabinet chaired by PM Narendra Modi ji today approved the export of Akash Missile System and a Committee for faster Approvals has been created,” tweeted Defence Minister Rajnath Singh.
Under the #AtmaNirbharBharat, India is growing in its capabilities of manufacturing wide variety of Defence platforms & missiles.
The Cabinet chaired by PM @narendramodi ji today approved the export of Akash Missile System and a Committee for faster Approvals has been created.— Rajnath Singh (@rajnathsingh) December 30, 2020
The minister said that the export version of Akash will be different from System currently deployed with Indian Armed Forces, adding that this decision by the Cabinet would help the country to improve its defence products and make them globally competitive.
He also said that Centre aims to achieve the target of USD 5 billion defence export.
“The Government of India intends to focus on exporting high value defence platforms, to achieve target of 5 Billion USD of defence export and improve strategic relations with friendly foreign countries,” he tweeted.
The Government of India intends to focus on exporting high value defence platforms, to achieve target of 5 Billion USD of defence export and improve strategic relations with friendly foreign countries.
— Rajnath Singh (@rajnathsingh) December 30, 2020
According to reports, nine friendly foreign countries from Southeast Asia and Africa have shown interest in the acquisition of the DRDO-developed Akash Missile System.
(Edited by : Aditi Gautam)
First Published: Dec 30, 2020 5:09 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024 — how regional parties are challenging national giants in Phase-4
May 15, 2024 6:17 AM
Supreme Court refuses plea seeking 6-year poll ban on PM
May 14, 2024 7:14 PM
Punjab Lok Sabha elections 2024: A look at BJP candidates
May 14, 2024 7:06 PM
Lok Sabha polls: EC disposes of 90% complaints related to MCC violations
May 14, 2024 4:45 PM