Parrikar sets $2 bn target for defence exports

Parrikar sets $2 bn target for defence exports in two years

New Delhi, May 14 (IANS) Defence Minister Manohar Parrikar on Saturday said he has set a target of raising defence exports to $2 billion in the next two years and the offsets clause will help in this.

Speaking at the Aerospace & Defence Summit organised by Automotive Component Manufacturers Association of India, the minister said the target is not very difficult to achieve.

“I think the push in exports is showing results. It has reached $350 million, almost doubling the export,” Parrikar said.

“In years to come, I have set a target for myself. In the next two years, the target is to touch $2 billion. It is not very impossible as offsets are the area from where exports, and expertise, both can come,” he said.

The minister added that in next two years, $2 billion worth of offset obligations are to be fulfilled.

Parrikar also said that government wants to export indigenous light combat aircraft Tejas.

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