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Defence industry of India

The defence industry sector of India is a strategically important sector in India.[1] India has one of the world's largest military forces with a strength of over 14.4 lakh (1.44 million) active personnel. It has the world's largest volunteer military of over 51 lakh (5.1 million) personnel.[2] The total budget sanctioned for the Indian military for the financial year 2021 is 4.78 lakh crore (equivalent to 5.6 trillion or US$70 billion in 2023).[3][4] It has the third largest annual defence budget behind USA (US$732 b) and China (US$261 b). It is the second largest defence importer behind Saudi Arabia making up 9.2% of global arms import. India has a domestic defence industry of which 60% is government owned. The public sector includes NTRO, CSIR, PRL, DRDO and its 50 labs, 4 defence shipyards, 12 defence PSUs. India has a new defence procurement, acquisition and manufacturing policy to reduce imports and enhance domestic manufacturing.[5]

HAL Light Utility Helicopter
HAL Prachand
Tejas

"Defence Production Policy of 2018" (DPrP-2018) has a goal of becoming among the top 5 global producers of the aerospace and defence manufacturing with annual export target of US$5 billion by 2025.[6][7] 12% of worldwide arms exports (by value) reach India.[8] India domestically produces only 70% to 75% of defence products it uses, and the rest are imported.[9] India's defence exports were ₹4,682 crore (US$0.66 billion) in 2017–2018 and ₹10,500 crore (US$1.47 billion) in 2018–2019, of 2018–2019 exports India's 8 Defence Public Sector Undertakings (DPSU) and 41 Ordnance Factories (OF) contributed ₹800 crore (7.6% of total defence exports).[6] During 2014-2018 India was the world's second largest defence importer.[10]

Military budget edit

The military budget of India is about 1.49% for year 2018–19 of the total GDP.[11] However, it spends nearly an equal amount in importing arms from other countries.

Its defence expenditure for the 2017–18 fiscal year, based on allotments by its Ministry of Finance was 86,488 crores for defence capital and 2,96,000 crores for defence pensions.[12]

Service/ department-wise allocation as a percentage of total defence estimates in 2017–18:

The Indian Army accounts for more than half of the total defence budget of India, with most of expenditure going to the maintenance of cantonments, salaries and pensions, instead of critical arms and ammunition.[13] As of 2019, there is 25% shortfall in the military's budget demand versus the actually budget allocation by the government.[14] There are suggestion to use the military's land bank to generate more funds to bridge this gap for the modernisation of military with the latest equipment.[14] From November 2019, government exempted the imported defence equipment from the customs and import duties for a period of five year during which domestic production is unlikely to meet the technical demand of the forces.[15] This will result in a savings of ₹25,000 crore (US$3.5 billion) which could be used for the modernisation of the forces.[15]

State orders edit

The Government of India has been pushing for greater indigenisation of military hardware as India imports a considerable amount of its defence equipment and platforms. Between 2016 and 2020, India accounted for 9.5% of total global arms imports.[16] From 2000 to 2022, Russia, France, Israel, the United States and United Kingdom are the top 5 countries where India imports its arms from.[17] Thus in 2022, the Indian Government scrapped the import of several large defence platforms and equipment, which included helicopters for the Coast Guard, all-terrain vehicles (ATVs) and short range missiles.[18] In addition to this, the Ministry of Defence has started releasing indigenisation lists, which consists of equipment and platforms that the government aims to completely indigenise by December 2025.[19] The Defence Ministry has also stated that the equipment and platforms that are on the third indigenisation list, could result in state orders that are worth more than Rs 2,10,000 crore being placed on the Indian defence industry in the next five years.[19]

Arms transfers of India[20]
Exports

(1990 $ millions)

Imports

(1990 $ millions)

2010 2019 2010 2019
5 115 2,909 2,964

Compared to other branches of military, the Indian Army consumes 50% of defence budget, is least technology intensive and slowest to adopt the indigenisation of equipment, has multi-year long procurement cycle, and pre-purchase field trials last for several years sometimes without resulting in any procurement, for example soldier's hand held GPS enabled indigenous "Sathi" PDA "Beta Project" was abandoned midway and soldiers still do not have a PDA.[21] To expedite the development cycle of new technologies and to better fit the end user requirements, army has asked DRDO to take more army staff on deputation to be part of DRDO technology development project teams.[22]

The Indian Armed forces are using numerous successful indigenous technologies produced by the DRDO, including Varunastra, Maareech, Ushus, Advanced Light Torpedo (TAL) Shyena; Electronic Warfare Technologies, radars, composite materials for LCA, AEW&C, Astra, LCA Tejas by the Indian Airforce; ASAT, BrahMos, Nag missile, SAAW, Arjun MBT Mk 1A, 46 metre Modular Bridge, MPR, LLTR Ashwin by the army.[23]

Arms Exports edit

 
Ashok Leyland FAT 6×6 is the latest armoured truck of Indian Army
 
Pinaka Missile System

India's track record as an arms exporter has been modest due to export restrictions on the manufacturing companies.[24][25] PSUs exports Arms and Ammunition, Weapon Spares, Chemicals & Explosives, Parachutes, Leather and Clothing items to more than 30 countries worldwide e.g. Thailand, Malaysia, Indonesia, Sri Lanka, Bangladesh, Germany, Belgium, Turkey, Egypt, Oman, Israel, Kenya, Nigeria, Botswana, Chile, Suriname and United States.[26][27]

However, due to liberal policies adopted by the Prime Minister Narendra Modi's government since 2014, there has been a substantial increase in India's defence exports. According to the latest official data given in the upper house of Indian Parliament - the Rajya Sabha, India's defence export has jumped by 700% in just two years. The export authorisation went up from $213 million in FY 2016–17 to $1.5 billion in FY 2018-19 (April to March period).[28] The Stockholm International Peace Research Institute has noted that three Indian companies that rank among the top-100 defence companies, viz., Hindustan Aeronautics Limited, AVANI and Bharat Electronics Limited, account for 1.2% of the defence exports of the top-100 total.[29]

In March 2011 New Delhi agreed to sell its first indigenously designed and built multi-role offshore patrol vessel (OPV) named Barracuda, to Mauritius. In March 2017, India finalised a deal with Myanmar for sale of indigenously developed lightweight torpedoes worth US$37.9 million. Similar naval platforms were sold to Sri Lanka and Vietnam as well.[30]Thailand has also purchased over 600 military trucks from India.[31] Armenia has emerged as a strategic partner for India. In 2022, when India inked the deal to supply Pinaka multi-barrel rocket launchers (MBRL), anti-tank munitions, and ammunition worth US$250 million to Armenia[32]

In Sep 2017, AWE secured its biggest export order from UAE for the supply of 40,000 numbers of 155 mm artillery shells for 3.22 billion (US$40 million).[33] In Aug 2019, AWE received a second order from UAE to supply another 50,000 artillery shells.[34]

The Defence Minister Rajnath Singh has stated in 2021 that India was ready to export different types of missile systems, Light Combat Aircraft, helicopters, multi-purpose light transport aircraft, warships and patrol vessels, artillery gun systems, tanks, radars, military vehicles, electronic warfare systems and other weapons systems to Indian Ocean region nations.[29]

Companies edit

State-Run edit

Name Specialization Revenue (As of 2020, except DRDO) Operating Income (As of 2020, except DRDO) Employees (As of March–April 2019, except Goa Shipyard) Notes
Bharat Dynamics Ammunition and Missile systems ₹3,095.2 crore (US$430 million) ₹2,828.8 crore (US$400 million) 3,030 [35][36]
Bharat Electronics Avionics and Radar ₹32,920 crore (US$4.6 billion) ₹12,480 crore (US$1.7 billion) 9,612 [35][36]
Bharat Earth Movers Transport and Earthmoving Equipment ₹3,077.4 crore (US$430 million) ₹153.20 crore (US$21 million) 7,185 [37]
Electronics Corporation of India Limited Electronics and Communications ₹13.08 billion (US$160 million) (2015) ₹0.52 billion (US$6.5 million) (2015) 1,974 [38]
Garden Reach Shipbuilders & Engineers Shipbuilding and Ship Design ₹1,658.79 crore (US$230 million) ₹225.20 crore (US$32 million) 2,100 [39][40]
Goa Shipyard Shipbuilding ₹₹1,071.76 crore (US$150 million) ₹264.92 crore (US$37 million) 1472 (March 2020) [41]
Hindustan Aeronautics Limited Aerospace manufacturer and Defence manufacturer ₹21,522.07 crore (US$3.0 billion) ₹3,960.57 crore (US$560 million) 28,345 [42][43]
Mazagon Dock Limited Shipbuilding ₹4399.16 crores (US$640 million) 9,000 [44][45]
Mishra Dhatu Nigam Metallurgy ₹747 crores (US$110 million) 852 [46][47][48]
Utkarsha Aluminium Dhatu Nigam Limited (UADNL) Metallurgy ₹2,000 crores 380 [49]
Cochin Shipyard Limited Shipbuilding ₹28,745 crore (2017–2018, US$370 million) 12,000

New State Run edit

Private companies edit

Following have been given defence manufacturing license as well as based in India (please help expand this partial list):

Name of company Established Specialization Operating Income (As of 2022) Employees (As of 2022) Notes
Adani Aero Defense Systems & Technologies[50] 2015 Aerospace & Drones TBD TBD TBD
Aerolloy Technologies[51] 2020 Metallurgy TBD TBD TBD
Alpha Design Technologies 2003 Defence Electronics, Avionics & Space Satellites systems TBD TBD TBD
Astra Microwave Products[52] 1991 Radar systems TBD TBD TBD
Apollo Micro Systems[53] 1985 Defence Electronics, Avionics & Space Satellites systems TBD TBD TBD
Avantel[54] 1985 HF Communications,Radar, SDR & Space Satellites systems TBD TBD TBD
BrahMos Aerospace 2004 Missile systems TBD TBD TBD
Bharat Forge 1961 Artillery, metallurgy TBD TBD TBD
Centum Electronics 1993 Defense electronics TBD TBD TBD
CRON systems 2015 LIDAR & Cybersecurity TBD TBD TBD
Crown Group[55] 1978 MRO, AI & Cybersecurity TBD TBD TBD
Data Patterns[56] 1976 RF, Defence electronics TBD TBD TBD
Defsys Solutions[57] 2007 Avionics TBD TBD TBD
DCX Systems[58] 2010 Avionics & wire-harness TBD TBD TBD
Dynamatic Technologies 1973 Hydraulics, Metallurgy & Aerospace TBD TBD TBD
Elecon Engineering 1960 Machinery TBD TBD TBD
EyeROV 2016 UAV TBD TBD TBD
Godrej & Boyce 1985 Aerospace & Precision engineering TBD TBD TBD
HBL Power Systems[59] 1976 Battery & Power systems TBD TBD TBD
High Energy Batteries Ltd.[60] 1961 Battery & Power systems TBD TBD TBD
Jindal Defence 1947 Armour, Missile systems & Arms TBD TBD TBD
Kineco Limited[61] 1994 Composites TBD TBD TBD
Krishna Defence & Allied[62] 1996 Metallurgy TBD TBD TBD
Larsen & Toubro 1948 Diversified defense products TBD TBD TBD
MAK Controls and Systems 1973 Ground Support Equipment, Power Electronics and Land based systems TBD TBD TBD
Megha Engineering and Infrastructures Limited (MEIL)[63] 1989 defence electronics and communications TBD TBD TBD
Tardid Technologies 2016 AI based autonomous vehicles[64] & Cybersecurity TBD TBD TBD
Tata Advanced Systems 2007 Aerospace , Landbase defense systems, Sonar, Radar, Missile Drones TBD TBD TBD
Tata Steel Advanced Materials 2012 Composites TBD TBD TBD
Tata Power SED 1975 Missile, Drones, Defense electronics TBD TBD TBD
Texmaco Defence Systems 2017 Armoured vehicle, Guns, Artillaries TBD TBD TBD
Titagarh Wagons 1982 Mine clearing systems, Military Trailers, CBRNe TBD TBD TBD
Tonbo Imaging[65] 2003 Imaging systems TBD TBD TBD
Triveni Engineering & Industries 1932 Gas Turbine & Gearboxes TBD TBD TBD
SSS Defence 1960 Small Arms & Metallurgy TBD TBD TBD
Staqu Technologies[66] 2015 AI/Surveillance/Computer Vision TBD TBD TBD
Mahindra Aerospace 2008 Aerospace TBD TBD TBD
Mahindra Defence Systems Ltd. 2012 Armoured vehicle TBD TBD TBD
MKU 1985 Armour TBD TBD TBD
Paras Defence And Space Technologies Ltd. 1972 Diversified defense equipment TBD TBD TBD
Premier Explosives 1980 Diversified defense equipments TBD TBD TBD
PTC Industries 1963 Metallurgy & Alloys TBD TBD TBD
MTAR Technologies 1984 Diversified defense equipments & Satcom TBD TBD TBD
Raphe Mphibr Pvt Ltd 1963 Metallurgy & Alloys TBD TBD TBD
Rossell Techsys 2009 composites TBD TBD TBD
Samtel Avionics 2006 Display TBD TBD TBD
Exicom Tele-Systems 1994 RF , Defense Telephony TBD TBD TBD
Sandeep Metalcraft Pvt Ltd 1988 Arms & Missiles TBD TBD TBD
Sika Interplant Systems Ltd. 1969 Turbine & Gearboxes TBD TBD TBD
Solar Industries India 1983 Diversified defence equipment TBD TBD TBD
Torus Robotics 2015 UAV TBD TBD TBD
VEM Technologies[67] 1993 Aerospace TBD TBD TBD
ideaForge 2007 UAV TBD TBD TBD
Optimized Electrotech 2017 UAV TBD TBD TBD
Walchandnagar Industries 1908 Missile Systems TBD TBD TBD

Other related edit

Domestic defence manufacturing edit

Indigenisation edit

In September 2019, DRDO formulated the "DRDO Policy and Procedures for Transfer of Technology" and released information on "DRDO-Industry Partnership: Synergy and Growth and DRDO Products with Potential for Export".[23] During the Vibrant Goa Global Expo and Summit 2019 in October, DRDO signed technology transfer contracts with 16 Indian companies, including 3 startups, to produce products for the use by Indian Armed Forces.[68] This included high shelf life, high nutrition, ready-to-eat on-the-go food products to be consumed in the difficult terrain and bad weather.[68] To boost the domestic defence production capability, Defence Minister Rajnath Singh's November 2019 delegation included 50 Indian companies scouting for the Russian partners and joint ventures for the defence production in India.[69] DRDO and ISRO have agreed to collaborate in India's crewed orbital spacecraft project called Gaganyaan during which DRDOs various laboratories will tailor their defence capabilities to suit the needs of ISRO's human space mission.[70] To become technology research and production leader, reduce reliance on the imports and increase self-reliance, DRDO Chief called for more collaboration with the industry, private sector, research and education institutes including IITs and NITs.[9]

Make in India edit

The Modi government in its first year cleared 39 capital procurement proposals, of which 32 proposals worth 88,900 crore (US$11 billion) (or 96% of value of total proposals) were categorized as Buy (Indian) and Buy and Make (Indian)—the top two prioritized domestic industry-centric procurement categories as per the defence procurement procedure (DPP).[71]

The government's policies to encourage domestic manufacturing and export of defence equipment under Prime Minister Narendra Modi's flagship scheme Make in India in Defence. It has already resulted in substantial growth of defence export from the country as it jumped by 700% in just two years, from $213 million in FY 2016–17 to $1.5 billion in FY 2018–19.[28] Encouraged by this, the government set a target of achieving defence export worth ₹35,000 crore ($4.87 billion) in next four years.[72]

In July 2015, the defence ministry eased export regulations and stopped demanding multiple assurances on end-use from foreign governments even for sale of components by Indian entities.[73]

Some critics say that instead of encouraging the manufacturing of equipment in India, the Modi government has given financial powers to the Armed forces to purchase equipment up to ₹500 crores without the consultation of the Ministry.[74][75] This will further increase the types of weapons, their spares and components, cost of maintainability which will result in non-compatibility and standardisation problems in near future.

FDI in Defence edit

Even though Modi government has been trying hard to get FDI in defence sector by first raising the cap from 26% to 74% through automatic route and 100% through MoD's approval, whereby the investing foreign entity can have ownership up to 100% in the defence manufacturing, it has received a dismal response with a meagre investment of just ₹56 lacs (US$0.08 million) in 2014–15, ₹71 lac (US$0.10 million) in 2015–16, ₹7 lacs (US$0.01 million) in 2017–18 and ₹15 crores (US$2.18 million) during 2018–19.[76]

Year Total FDI in Defence
2014–15 USD 0.08 million (₹56 lacs)
2015–16 USD 0.10 million (₹71 lac)
2017–18 USD 0.01 million (₹7 lacs)
2018–19 USD 2.18 million (₹15 crores) [76]

Negative import list edit

An import embargo on 101 defence items was announced on 9 August 2020. Over a period of five years, the items will be prohibited from being imported.[77]
On 31 May 2021 GoI announced the ban on 108 items that were excluded from early list. This also includes roadmap of five years for the promotion of indigenous. The list was described as "2nd Positive List for indigenisation" by the government.[78][79][80][81][82]

These include weapon systems like artillery guns, assault rifles, corvettes, transport aircraft, light combat helicopters (LCHs) and even wheeled armoured fighting vehicles (AFVs).

Involvement of Arms dealers, arms agents and middlemen edit

Despite the strategic and economic importance of the defence sector, there have been numerous scandals that have been linked to defence deals which involve the import of foreign arms by the Indian government.[83][84] Many of these scandals, include allegations related to bribery and the alleged involvement of middlemen.[83][85] These alleged middlemen are also termed as lobbyists, arms agents or arms dealers.[86][87][88] Until the 1980s, agenting or lobbying on behalf of foreign defence companies was legal in India, however due to the political fallout from the Bofors Scandal, which happened in the 1980s, the Indian Government banned agents from being involved in defence deals.[89][90] This was due to the emergence of allegations against certain Indian politicians and defence officials of receiving payoffs to clinch the deal the between Bofors and the Indian Government.[90][91]

Despite the fact that arms dealers or arms agents are controversial within the defence sector, it has been reported that their role and involvement is critical for any defence deal to take place between foreign defence companies and the Indian Government.[92][87] Allegedly, arms agents can manipulate the procurement process because they have the means to pay substantial commissions to politicians, military officials and bureaucrats, therefore making them ever-present in defence deals.[83] In addition to this, members of the Ministry of Defence and military officials have stated that arms agents have the power to manipulate what is written in weapons test reports, and General V.K Singh, a former Indian Chief of the Army Staff, stated that the reach of lobbyists within the Defence Ministry extends to the level where agents have access to classified intelligence and know the inner workings of the ministry.[93][94]

According to the Central Bureau of Investigation (CBI), Vipin Khanna, Sudhir Choudhrie and Suresh Nanda were the three largest and most powerful arms dealers.[95][96][97] Allegedly, Khanna, Choudhrie and Nanda, started dominating the defence sector since before the Bofors Scandal in the 1980s, and their families have maintained their positions.[95][98][99] Supposedly, their commissions from arms deals could be up to as high as 15%.[95] Reportedly, Khanna, Choudhrie and Nanda played critical roles in getting defence deals approved because they have the capabilities to get a deal through the political and bureaucratic procurement process, due to their influence and connections within India.[96][83] All three men and members of their families have been accused in several defence scandals, however none of the allegations against them have ever been proven.[100][99][101]

Several other individuals have also been alleged or rumoured to be smaller arms dealers or arms agents. This includes Abhishek Verma, who reportedly portrayed himself to be a powerful arms dealer, but according to the CBI, Verma was merely pretending to be in that position and according to Verma's associates, who spoke anonymously to the Economic Times for their article, Verma had created a false image of both his business and his wealth.[95][102] In 2012, Verma was arrested by the CBI for violating the Official Secrets Act, but in 2017, Verma was discharged by the courts due to lack of evidence against him.[103][104] Another individual accused of being an arms dealer is Sanjay Bhandari, who fled to the United Kingdom in 2016, and is currently fighting an extradition case, as the Indian Government wants Bhandari extradited to India, to face charges of money laundering and tax evasion.[105][106] The CBI also accused Mohinder Singh Sahni of being a small time arms dealer, during an investigation probe into him.[95][107]

In addition to this, non-Indian citizens have also been accused for allegedly giving bribes and kickbacks to influence defence deals in India. This include Christian Michel, a British Citizen, who was extradited to India from the United Arab Emirates in 2018.[108] Michel has been accused by the CBI and the Enforcement Directorate, for allegedly being one of the middlemen in the 2013 Indian helicopter bribery scandal, and has been in judicial custody in India for over two years, with his bail being denied by the Indian courts.[108][109]

See also edit

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defence, industry, india, defence, industry, sector, india, strategically, important, sector, india, india, world, largest, military, forces, with, strength, over, lakh, million, active, personnel, world, largest, volunteer, military, over, lakh, million, pers. The defence industry sector of India is a strategically important sector in India 1 India has one of the world s largest military forces with a strength of over 14 4 lakh 1 44 million active personnel It has the world s largest volunteer military of over 51 lakh 5 1 million personnel 2 The total budget sanctioned for the Indian military for the financial year 2021 is 4 78 lakh crore equivalent to 5 6 trillion or US 70 billion in 2023 3 4 It has the third largest annual defence budget behind USA US 732 b and China US 261 b It is the second largest defence importer behind Saudi Arabia making up 9 2 of global arms import India has a domestic defence industry of which 60 is government owned The public sector includes NTRO CSIR PRL DRDO and its 50 labs 4 defence shipyards 12 defence PSUs India has a new defence procurement acquisition and manufacturing policy to reduce imports and enhance domestic manufacturing 5 HAL Light Utility HelicopterHAL PrachandTejas Defence Production Policy of 2018 DPrP 2018 has a goal of becoming among the top 5 global producers of the aerospace and defence manufacturing with annual export target of US 5 billion by 2025 6 7 12 of worldwide arms exports by value reach India 8 India domestically produces only 70 to 75 of defence products it uses and the rest are imported 9 India s defence exports were 4 682 crore US 0 66 billion in 2017 2018 and 10 500 crore US 1 47 billion in 2018 2019 of 2018 2019 exports India s 8 Defence Public Sector Undertakings DPSU and 41 Ordnance Factories OF contributed 800 crore 7 6 of total defence exports 6 During 2014 2018 India was the world s second largest defence importer 10 Contents 1 Military budget 2 State orders 3 Arms Exports 4 Companies 4 1 State Run 4 2 New State Run 4 3 Private companies 4 4 Other related 5 Domestic defence manufacturing 5 1 Indigenisation 5 2 Make in India 5 3 FDI in Defence 6 Negative import list 7 Involvement of Arms dealers arms agents and middlemen 8 See also 9 ReferencesMilitary budget editSee also Military budget of IndiaThe military budget of India is about 1 49 for year 2018 19 of the total GDP 11 However it spends nearly an equal amount in importing arms from other countries Its defence expenditure for the 2017 18 fiscal year based on allotments by its Ministry of Finance was 86 488 crores for defence capital and 2 96 000 crores for defence pensions 12 Service department wise allocation as a percentage of total defence estimates in 2017 18 Army 55 9 Air Force 22 5 Navy 14 6 DRDO 5 7 DGOF 0 8 DGQA 0 5 The Indian Army accounts for more than half of the total defence budget of India with most of expenditure going to the maintenance of cantonments salaries and pensions instead of critical arms and ammunition 13 As of 2019 there is 25 shortfall in the military s budget demand versus the actually budget allocation by the government 14 There are suggestion to use the military s land bank to generate more funds to bridge this gap for the modernisation of military with the latest equipment 14 From November 2019 government exempted the imported defence equipment from the customs and import duties for a period of five year during which domestic production is unlikely to meet the technical demand of the forces 15 This will result in a savings of 25 000 crore US 3 5 billion which could be used for the modernisation of the forces 15 State orders editSee also Corruption in defence procurement in India The Government of India has been pushing for greater indigenisation of military hardware as India imports a considerable amount of its defence equipment and platforms Between 2016 and 2020 India accounted for 9 5 of total global arms imports 16 From 2000 to 2022 Russia France Israel the United States and United Kingdom are the top 5 countries where India imports its arms from 17 Thus in 2022 the Indian Government scrapped the import of several large defence platforms and equipment which included helicopters for the Coast Guard all terrain vehicles ATVs and short range missiles 18 In addition to this the Ministry of Defence has started releasing indigenisation lists which consists of equipment and platforms that the government aims to completely indigenise by December 2025 19 The Defence Ministry has also stated that the equipment and platforms that are on the third indigenisation list could result in state orders that are worth more than Rs 2 10 000 crore being placed on the Indian defence industry in the next five years 19 Arms transfers of India 20 Exports 1990 millions Imports 1990 millions 2010 2019 2010 20195 115 2 909 2 964Compared to other branches of military the Indian Army consumes 50 of defence budget is least technology intensive and slowest to adopt the indigenisation of equipment has multi year long procurement cycle and pre purchase field trials last for several years sometimes without resulting in any procurement for example soldier s hand held GPS enabled indigenous Sathi PDA Beta Project was abandoned midway and soldiers still do not have a PDA 21 To expedite the development cycle of new technologies and to better fit the end user requirements army has asked DRDO to take more army staff on deputation to be part of DRDO technology development project teams 22 The Indian Armed forces are using numerous successful indigenous technologies produced by the DRDO including Varunastra Maareech Ushus Advanced Light Torpedo TAL Shyena Electronic Warfare Technologies radars composite materials for LCA AEW amp C Astra LCA Tejas by the Indian Airforce ASAT BrahMos Nag missile SAAW Arjun MBT Mk 1A 46 metre Modular Bridge MPR LLTR Ashwin by the army 23 Arms Exports editSee also Indigenous Defence Equipment Exporters Association Make in India and Startup India nbsp Ashok Leyland FAT 6 6 is the latest armoured truck of Indian Army nbsp Pinaka Missile SystemIndia s track record as an arms exporter has been modest due to export restrictions on the manufacturing companies 24 25 PSUs exports Arms and Ammunition Weapon Spares Chemicals amp Explosives Parachutes Leather and Clothing items to more than 30 countries worldwide e g Thailand Malaysia Indonesia Sri Lanka Bangladesh Germany Belgium Turkey Egypt Oman Israel Kenya Nigeria Botswana Chile Suriname and United States 26 27 However due to liberal policies adopted by the Prime Minister Narendra Modi s government since 2014 there has been a substantial increase in India s defence exports According to the latest official data given in the upper house of Indian Parliament the Rajya Sabha India s defence export has jumped by 700 in just two years The export authorisation went up from 213 million in FY 2016 17 to 1 5 billion in FY 2018 19 April to March period 28 The Stockholm International Peace Research Institute has noted that three Indian companies that rank among the top 100 defence companies viz Hindustan Aeronautics Limited AVANI and Bharat Electronics Limited account for 1 2 of the defence exports of the top 100 total 29 In March 2011 New Delhi agreed to sell its first indigenously designed and built multi role offshore patrol vessel OPV named Barracuda to Mauritius In March 2017 India finalised a deal with Myanmar for sale of indigenously developed lightweight torpedoes worth US 37 9 million Similar naval platforms were sold to Sri Lanka and Vietnam as well 30 Thailand has also purchased over 600 military trucks from India 31 Armenia has emerged as a strategic partner for India In 2022 when India inked the deal to supply Pinaka multi barrel rocket launchers MBRL anti tank munitions and ammunition worth US 250 million to Armenia 32 In Sep 2017 AWE secured its biggest export order from UAE for the supply of 40 000 numbers of 155 mm artillery shells for 3 22 billion US 40 million 33 In Aug 2019 AWE received a second order from UAE to supply another 50 000 artillery shells 34 The Defence Minister Rajnath Singh has stated in 2021 that India was ready to export different types of missile systems Light Combat Aircraft helicopters multi purpose light transport aircraft warships and patrol vessels artillery gun systems tanks radars military vehicles electronic warfare systems and other weapons systems to Indian Ocean region nations 29 Companies editState Run edit Name Specialization Revenue As of 2020 except DRDO Operating Income As of 2020 except DRDO Employees As of March April 2019 except Goa Shipyard NotesBharat Dynamics Ammunition and Missile systems 3 095 2 crore US 430 million 2 828 8 crore US 400 million 3 030 35 36 Bharat Electronics Avionics and Radar 32 920 crore US 4 6 billion 12 480 crore US 1 7 billion 9 612 35 36 Bharat Earth Movers Transport and Earthmoving Equipment 3 077 4 crore US 430 million 153 20 crore US 21 million 7 185 37 Electronics Corporation of India Limited Electronics and Communications 13 08 billion US 160 million 2015 0 52 billion US 6 5 million 2015 1 974 38 Garden Reach Shipbuilders amp Engineers Shipbuilding and Ship Design 1 658 79 crore US 230 million 225 20 crore US 32 million 2 100 39 40 Goa Shipyard Shipbuilding 1 071 76 crore US 150 million 264 92 crore US 37 million 1472 March 2020 41 Hindustan Aeronautics Limited Aerospace manufacturer and Defence manufacturer 21 522 07 crore US 3 0 billion 3 960 57 crore US 560 million 28 345 42 43 Mazagon Dock Limited Shipbuilding 4399 16 crores US 640 million 9 000 44 45 Mishra Dhatu Nigam Metallurgy 747 crores US 110 million 852 46 47 48 Utkarsha Aluminium Dhatu Nigam Limited UADNL Metallurgy 2 000 crores 380 49 Cochin Shipyard Limited Shipbuilding 28 745 crore 2017 2018 US 370 million 12 000New State Run edit Munitions India Limited MIL Armoured Vehicles Nigam Limited AVANI Advanced Weapons and Equipment India Limited AWE Troop Comforts Limited TCL Yantra India Limited YIL India Optel Limited IOL Gliders India Limited GIL Private companies edit See also Indigenous Defence Equipment Exporters Association This is a dynamic list and may never be able to satisfy particular standards for completeness You can help by adding missing items with reliable sources Following have been given defence manufacturing license as well as based in India please help expand this partial list Name of company Established Specialization Operating Income As of 2022 Employees As of 2022 NotesAdani Aero Defense Systems amp Technologies 50 2015 Aerospace amp Drones TBD TBD TBDAerolloy Technologies 51 2020 Metallurgy TBD TBD TBDAlpha Design Technologies 2003 Defence Electronics Avionics amp Space Satellites systems TBD TBD TBDAstra Microwave Products 52 1991 Radar systems TBD TBD TBDApollo Micro Systems 53 1985 Defence Electronics Avionics amp Space Satellites systems TBD TBD TBDAvantel 54 1985 HF Communications Radar SDR amp Space Satellites systems TBD TBD TBDBrahMos Aerospace 2004 Missile systems TBD TBD TBDBharat Forge 1961 Artillery metallurgy TBD TBD TBDCentum Electronics 1993 Defense electronics TBD TBD TBDCRON systems 2015 LIDAR amp Cybersecurity TBD TBD TBDCrown Group 55 1978 MRO AI amp Cybersecurity TBD TBD TBDData Patterns 56 1976 RF Defence electronics TBD TBD TBDDefsys Solutions 57 2007 Avionics TBD TBD TBDDCX Systems 58 2010 Avionics amp wire harness TBD TBD TBDDynamatic Technologies 1973 Hydraulics Metallurgy amp Aerospace TBD TBD TBDElecon Engineering 1960 Machinery TBD TBD TBDEyeROV 2016 UAV TBD TBD TBDGodrej amp Boyce 1985 Aerospace amp Precision engineering TBD TBD TBDHBL Power Systems 59 1976 Battery amp Power systems TBD TBD TBDHigh Energy Batteries Ltd 60 1961 Battery amp Power systems TBD TBD TBDJindal Defence 1947 Armour Missile systems amp Arms TBD TBD TBDKineco Limited 61 1994 Composites TBD TBD TBDKrishna Defence amp Allied 62 1996 Metallurgy TBD TBD TBDLarsen amp Toubro 1948 Diversified defense products TBD TBD TBDMAK Controls and Systems 1973 Ground Support Equipment Power Electronics and Land based systems TBD TBD TBDMegha Engineering and Infrastructures Limited MEIL 63 1989 defence electronics and communications TBD TBD TBDTardid Technologies 2016 AI based autonomous vehicles 64 amp Cybersecurity TBD TBD TBDTata Advanced Systems 2007 Aerospace Landbase defense systems Sonar Radar Missile Drones TBD TBD TBDTata Steel Advanced Materials 2012 Composites TBD TBD TBDTata Power SED 1975 Missile Drones Defense electronics TBD TBD TBDTexmaco Defence Systems 2017 Armoured vehicle Guns Artillaries TBD TBD TBDTitagarh Wagons 1982 Mine clearing systems Military Trailers CBRNe TBD TBD TBDTonbo Imaging 65 2003 Imaging systems TBD TBD TBDTriveni Engineering amp Industries 1932 Gas Turbine amp Gearboxes TBD TBD TBDSSS Defence 1960 Small Arms amp Metallurgy TBD TBD TBDStaqu Technologies 66 2015 AI Surveillance Computer Vision TBD TBD TBDMahindra Aerospace 2008 Aerospace TBD TBD TBDMahindra Defence Systems Ltd 2012 Armoured vehicle TBD TBD TBDMKU 1985 Armour TBD TBD TBDParas Defence And Space Technologies Ltd 1972 Diversified defense equipment TBD TBD TBDPremier Explosives 1980 Diversified defense equipments TBD TBD TBDPTC Industries 1963 Metallurgy amp Alloys TBD TBD TBDMTAR Technologies 1984 Diversified defense equipments amp Satcom TBD TBD TBDRaphe Mphibr Pvt Ltd 1963 Metallurgy amp Alloys TBD TBD TBDRossell Techsys 2009 composites TBD TBD TBDSamtel Avionics 2006 Display TBD TBD TBDExicom Tele Systems 1994 RF Defense Telephony TBD TBD TBDSandeep Metalcraft Pvt Ltd 1988 Arms amp Missiles TBD TBD TBDSika Interplant Systems Ltd 1969 Turbine amp Gearboxes TBD TBD TBDSolar Industries India 1983 Diversified defence equipment TBD TBD TBDTorus Robotics 2015 UAV TBD TBD TBDVEM Technologies 67 1993 Aerospace TBD TBD TBDideaForge 2007 UAV TBD TBD TBDOptimized Electrotech 2017 UAV TBD TBD TBDWalchandnagar Industries 1908 Missile Systems TBD TBD TBDOther related edit Semiconductor Laboratory SCL ISRO for aerospace manufacturer MTAR Technologies rocket component manufacturer for ISRO NewSpace India Limited for low cost Rocket manufacturingDomestic defence manufacturing editIndigenisation edit In September 2019 DRDO formulated the DRDO Policy and Procedures for Transfer of Technology and released information on DRDO Industry Partnership Synergy and Growth and DRDO Products with Potential for Export 23 During the Vibrant Goa Global Expo and Summit 2019 in October DRDO signed technology transfer contracts with 16 Indian companies including 3 startups to produce products for the use by Indian Armed Forces 68 This included high shelf life high nutrition ready to eat on the go food products to be consumed in the difficult terrain and bad weather 68 To boost the domestic defence production capability Defence Minister Rajnath Singh s November 2019 delegation included 50 Indian companies scouting for the Russian partners and joint ventures for the defence production in India 69 DRDO and ISRO have agreed to collaborate in India s crewed orbital spacecraft project called Gaganyaan during which DRDOs various laboratories will tailor their defence capabilities to suit the needs of ISRO s human space mission 70 To become technology research and production leader reduce reliance on the imports and increase self reliance DRDO Chief called for more collaboration with the industry private sector research and education institutes including IITs and NITs 9 Make in India edit Main article Make in India The Modi government in its first year cleared 39 capital procurement proposals of which 32 proposals worth 88 900 crore US 11 billion or 96 of value of total proposals were categorized as Buy Indian and Buy and Make Indian the top two prioritized domestic industry centric procurement categories as per the defence procurement procedure DPP 71 The government s policies to encourage domestic manufacturing and export of defence equipment under Prime Minister Narendra Modi s flagship scheme Make in India in Defence It has already resulted in substantial growth of defence export from the country as it jumped by 700 in just two years from 213 million in FY 2016 17 to 1 5 billion in FY 2018 19 28 Encouraged by this the government set a target of achieving defence export worth 35 000 crore 4 87 billion in next four years 72 In July 2015 the defence ministry eased export regulations and stopped demanding multiple assurances on end use from foreign governments even for sale of components by Indian entities 73 Some critics say that instead of encouraging the manufacturing of equipment in India the Modi government has given financial powers to the Armed forces to purchase equipment up to 500 crores without the consultation of the Ministry 74 75 This will further increase the types of weapons their spares and components cost of maintainability which will result in non compatibility and standardisation problems in near future FDI in Defence edit Even though Modi government has been trying hard to get FDI in defence sector by first raising the cap from 26 to 74 through automatic route and 100 through MoD s approval whereby the investing foreign entity can have ownership up to 100 in the defence manufacturing it has received a dismal response with a meagre investment of just 56 lacs US 0 08 million in 2014 15 71 lac US 0 10 million in 2015 16 7 lacs US 0 01 million in 2017 18 and 15 crores US 2 18 million during 2018 19 76 Year Total FDI in Defence2014 15 USD 0 08 million 56 lacs 2015 16 USD 0 10 million 71 lac 2017 18 USD 0 01 million 7 lacs 2018 19 USD 2 18 million 15 crores 76 Negative import list editAn import embargo on 101 defence items was announced on 9 August 2020 Over a period of five years the items will be prohibited from being imported 77 On 31 May 2021 GoI announced the ban on 108 items that were excluded from early list This also includes roadmap of five years for the promotion of indigenous The list was described as 2nd Positive List for indigenisation by the government 78 79 80 81 82 These include weapon systems like artillery guns assault rifles corvettes transport aircraft light combat helicopters LCHs and even wheeled armoured fighting vehicles AFVs Involvement of Arms dealers arms agents and middlemen editDespite the strategic and economic importance of the defence sector there have been numerous scandals that have been linked to defence deals which involve the import of foreign arms by the Indian government 83 84 Many of these scandals include allegations related to bribery and the alleged involvement of middlemen 83 85 These alleged middlemen are also termed as lobbyists arms agents or arms dealers 86 87 88 Until the 1980s agenting or lobbying on behalf of foreign defence companies was legal in India however due to the political fallout from the Bofors Scandal which happened in the 1980s the Indian Government banned agents from being involved in defence deals 89 90 This was due to the emergence of allegations against certain Indian politicians and defence officials of receiving payoffs to clinch the deal the between Bofors and the Indian Government 90 91 Despite the fact that arms dealers or arms agents are controversial within the defence sector it has been reported that their role and involvement is critical for any defence deal to take place between foreign defence companies and the Indian Government 92 87 Allegedly arms agents can manipulate the procurement process because they have the means to pay substantial commissions to politicians military officials and bureaucrats therefore making them ever present in defence deals 83 In addition to this members of the Ministry of Defence and military officials have stated that arms agents have the power to manipulate what is written in weapons test reports and General V K Singh a former Indian Chief of the Army Staff stated that the reach of lobbyists within the Defence Ministry extends to the level where agents have access to classified intelligence and know the inner workings of the ministry 93 94 According to the Central Bureau of Investigation CBI Vipin Khanna Sudhir Choudhrie and Suresh Nanda were the three largest and most powerful arms dealers 95 96 97 Allegedly Khanna Choudhrie and Nanda started dominating the defence sector since before the Bofors Scandal in the 1980s and their families have maintained their positions 95 98 99 Supposedly their commissions from arms deals could be up to as high as 15 95 Reportedly Khanna Choudhrie and Nanda played critical roles in getting defence deals approved because they have the capabilities to get a deal through the political and bureaucratic procurement process due to their influence and connections within India 96 83 All three men and members of their families have been accused in several defence scandals however none of the allegations against them have ever been proven 100 99 101 Several other individuals have also been alleged or rumoured to be smaller arms dealers or arms agents This includes Abhishek Verma who reportedly portrayed himself to be a powerful arms dealer but according to the CBI Verma was merely pretending to be in that position and according to Verma s associates who spoke anonymously to the Economic Times for their article Verma had created a false image of both his business and his wealth 95 102 In 2012 Verma was arrested by the CBI for violating the Official Secrets Act but in 2017 Verma was discharged by the courts due to lack of evidence against him 103 104 Another individual accused of being an arms dealer is Sanjay Bhandari who fled to the United Kingdom in 2016 and is currently fighting an extradition case as the Indian Government wants Bhandari extradited to India to face charges of money laundering and tax evasion 105 106 The CBI also accused Mohinder Singh Sahni of being a small time arms dealer during an investigation probe into him 95 107 In addition to this non Indian citizens have also been accused for allegedly giving bribes and kickbacks to influence defence deals in India This include Christian Michel a British Citizen who was extradited to India from the United Arab Emirates in 2018 108 Michel has been accused by the CBI and the Enforcement Directorate for allegedly being one of the middlemen in the 2013 Indian helicopter bribery scandal and has been in judicial custody in India for over two years with his bail being denied by the Indian courts 108 109 See also editMilitary industrial complex Space industry of India Economy of IndiaReferences edit The seven homegrown firms fighting over India s 620 billion defence market Quartz 20 February 2015 Retrieved 12 November 2015 29 Largest Armies In The World WorldAtlas Retrieved 5 September 2019 Small increase Chinese state media takes a dig at India s defence budget Business Today 4 February 2021 Archived from the original on 4 February 2021 Retrieved 25 March 2021 Iiss ed 17 January 2018 The Military Balance 2009 doi 10 4324 9781351225946 ISBN 9781351225946 Pandit Rajat 4 August 2020 Draft policy seeks self reliance for India in defence production The Times of India Retrieved 15 July 2022 a b India plans to be among top 5 defence producers Archived 5 November 2019 at the Wayback Machine Conrad Courier 5 November 2019 Nearly half of US arms exports go to the Middle East Guardian 12 March 2018 Retrieved 16 October 2018 Wezeman Pieter D Fleurant Aude Kuimova Alexandra Tian Nan Wezeman Siemon T March 2018 Trends in international arms transfers 2017 sipri org SIPRI Retrieved 16 October 2018 a b DRDO chief urges for indigenous defence production The Economic Times 28 September 2019 India is world s second largest arms importer The Hindu 11 March 2019 Archived from the original on 5 May 2020 Military budget of India 2018 idsa in IDSA Retrieved 16 October 2018 Full Speech Finance Minister Arun Jaitley s Budget Speech Union Budget 2017 18 1 February 2017 retrieved 1 February 2017 Defence Manufacturing in India Companies amp Investment Opport Archived from the original on 3 January 2019 a b Samanta Pranab Dhal Defence BANK Why unlocking defence land bank to meet military s needs isn t a bad idea The Economic Times Retrieved 15 July 2022 a b Pubby Manu GST on Defence Imports Customs GST relief to give Rs 60 000 cr boost to defence The Economic Times Retrieved 15 July 2022 Pandit Rajat 16 March 2021 India s weapon imports fell by 33 in last five years but remains world s second largest arms importer The Times of India Retrieved 26 April 2022 Radhakrishnan Vignesh Nihalani Jasmin 22 March 2022 Data India reduced arms imports from Russia while China s dependency increased The Hindu ISSN 0971 751X Retrieved 26 April 2022 Philip Snehesh Alex 14 January 2022 From choppers to missiles Modi govt cuts defence foreign shopping list favours Make in India ThePrint Retrieved 26 April 2022 a b Defence Minister to release third positive indigenisation list on Thursday Business Standard India Press Trust of India 6 April 2022 Retrieved 26 April 2022 World Development Indicators wdi worldbank org Retrieved 26 March 2021 Unnithan Sandeep 21 October 2019 Why the army s changed mindset on indigenous technology is a relief India Today Retrieved 15 July 2022 NEWS Army wants DRDO to take in more of its personnel on deputation give them more access Archived 5 November 2019 at the Wayback Machine liistudio com 18 October 2019 a b Rajnath Singh Pushes For Indigenisation Of Defence Equipment NDTV com Retrieved 15 July 2022 Diplomatic concerns prompt govt to abort export of Mine Protected Vehicles to Iraq Defence Exports Department of Defence Production Customers Directorate of Ordnance Coordination and Services Government of India Ddpdoo gov in 6 June 2022 Retrieved 12 August 2022 We re making Ordnance factories future ready says OFB Chairman Dimri 28 September 2011 a b Make in India for the world India s defence export jumps seven fold in two years Defence Star 14 February 2020 permanent dead link a b Peri Dinakar 16 December 2021 The growth of India s defence exports The Hindu After Mauritius India to export warships to Sri Lanka the Times of India The Times of India Archived from the original on 5 May 2015 Retrieved 18 September 2017 https thepattayanews com 2020 08 27 royal thai army to purchase over 600 tata lpta military trucks https www eurasiantimes com after pinaka rockets armenia buys indian anti drone system Majumdar Arkamoy Dutta 30 November 2017 India looking to scale up military hardware exports Mint Pubby Manu 3 August 2019 In its largest ever export order OFB to supply 50 000 Bofors shells to UAE The Economic Times a b Financial Results 31 03 2020 Data from BSE Site a b https www bel india in Documentviews aspx fileName Annaul Report 2019 20 07 09 2020 pdf bare URL PDF Balance Sheet 31 03 2020 Annual report 2018 19 Balance Sheet 31 03 2020 http www grse in pdf investors Annual 20Report 202018 19 GRSE pdf bare URL PDF Balance Sheet 31 03 2020 HAL Financial 2020 PDF https hal india co in Common Uploads Finance Annual 20Report 202018 19 pdf bare URL PDF https mazagondock in writereaddata pdf doc Annual Reports Annual Report English 2017 2018 pdf bare URL PDF Mazagon Dock Shipbuilders Limited Ship Builder to the Nation mazagondock gov in Archived from the original on 19 April 2016 Retrieved 20 April 2016 Mishra Dhatu Nigam Profit and Loss Reports https www sebi gov in sebi data attachdocs apr 2018 1522924415143 pdf bare URL PDF Mishra Dhatu Nigam Limited Home superalloy titanium special steel industry midhani gov in Archived from the original on 1 May 2016 Retrieved 20 April 2016 2nd Annual Report 2020 21 Singh Navdeep 25 May 2023 PTC Industries shares jump over 8 after subsidiary gets IAI approval for components The Economic Times ISSN 0013 0389 Retrieved 1 August 2023 https economictimes indiatimes com markets stocks news ptc industries shares jump over 8 after subsidiary gets iai approval for components articleshow 100494253 cms from mdr CRISIL reaffirms ratings of Astra Microwave Products Retrieved 1 August 2023 https www business standard com content press releases ani apollo micro systems ltd is setting up a state of the art defence equipment manufacturing facility at hyderabad 123100200590 1 html https www marketscreener com quote stock AVANTEL LIMITED 20701922 news Avantel to Supply Power Amplifier Modules to Bharat Electronics 44684314 External link 25 August 2022 https www cnbctv18 com business companies data patterns will transition to end systems scale up exports in four years 16260341 htm https www hindustantimes com brand post defsys solutions delivered counter drone systems to indian forces col sgupta 101618313594920 html https www entrepreneur com en in technology dcx systems building indias aerospace defence giant for 452490 https www moneycontrol com news business stocks stock watch hbl power nearly triples in 6 months defence railway play driving gains 11453241 html https www livemint com industry manufacturing production incentives to fuel battery innovations on cards 11649185815999 html External link www kinecogroup com https www bqprime com markets krishna defence shares hit record high after securing order from defence ministry https www prnewswire com in news releases meil enters defence equipment manufacturing 826622385 html https www financialexpress com business defence another start upbrainbox sso to provide ai solutionduring rd parade 2960399 https www livemint com companies start ups bengaluru tech gives us israeli weapons eyes 11574009242060 html https www businesstoday in magazine the buzz story ai for smart crime fighting 234243 2019 10 14 https www thehindu com news national telangana vem tech inks pact with hal for 20 cfl units for tejas article66030914 ece a b DRDO signs pacts on Transfer of Technology with 16 companies The Economic Times 18 October 2019 50 India Inc representatives to accompany Rajnath Singh to Russia to explore JVs The Economic Times 31 October 2019 ISRO DRDO sign MoUs for Gaganyaan mission The Economic Times 17 September Make in India Big role for private firms in defence Mint 15 February 2016 India s defence export set to double in next four years to 4 86 billion Defence Star 14 February 2020 permanent dead link Pubby Manu 16 February 2016 Make in India How small tweaks in policy are drawing domestic and global firms to defence manufacturing The Economic Times permanent dead link Significant rise in value and number of cases processed by Defence Services following delegation of enhanced financial powers Post Pulwama government grants more financial powers to the 3 services for weapons The Economic Times a b Defence industry received 2 18 million FDI in 2018 19 Government The Economic Times Kaushik Krishn 10 August 2020 Explained What is the negative imports list for defence announced by Rajnath Singh The Indian Express Retrieved 11 August 2020 Mini UAVs mine protected vehicles among new list of 108 defence items banned for import Full List India expands negative list for defence imports with 108 new items India announces second progressive arms embargo list to boost domestic defence production India News Times of India The Times of India June 2021 Shukla Ajai 22 February 2021 Import embargo on 101 defence items would encourage self reliance PM Modi Business Standard India Govt bans import of 108 defence items to boost self reliance June 2021 a b c d Inbar Efraim Ningthoujam Alvite Singh 2012 Indo Israeli Defense Cooperation in the Twenty First Century Mideast Security and Policy Studies No 93 20 24 via ResearchGate From Bofors to Rafale Dubious defence deals that rocked India India Today 2019 Retrieved 4 April 2022 From Bofors to Rafale Dubious defence deals that rocked India India Today 8 February 2019 Retrieved 7 April 2022 Yadav Yatish 13 September 2018 Exclusive Two Indian businessmen linked to arms dealer Sudhir Choudhrie under investigation agencies scanner Firstpost Retrieved 5 April 2022 a b Ramesh PR 12 May 2016 Indian Arms Dealers The Defence Dynasty Open The Magazine Retrieved 5 April 2022 Singh Ramindar Badhwar Inderjit 1986 Lobbying for defence contracts is hard core brutal and uncompromising India Today Retrieved 5 April 2022 Pandit Rajat 2013 India the world s largest arms importer doesn t employ a single authorized agent The Economic Times Retrieved 6 April 2022 a b Ahmed M 21 April 1997 Bofors Ghost Casts Shadow On Indian Sales Of Arms Majors Business Standard India Retrieved 6 April 2022 Bofors scam A timeline of the 31 year old Rs 1 437 cr India Sweden deal Business Standard India 21 October 2017 Retrieved 6 April 2022 Doval Nikita 13 January 2015 The debate over defence middlemen mint Retrieved 7 April 2022 Singh Ramindar Badhwar Inderjit 1986 Lobbying for defence contracts is hard core brutal and uncompromising India Today Retrieved 8 April 2022 Srivastava Mihir 15 November 2013 The Arms Lobby Is Very Strong Open The Magazine Retrieved 8 April 2022 a b c d e Sarin Ritu 28 October 2006 Arms and the Men The Indian Express Retrieved 3 July 2022 a b Srivastava Mihir 5 April 2012 The Men Who Do Not Exist Open The Magazine Retrieved 8 April 2022 Nationwide raids The Economic Times 2006 Retrieved 8 April 2022 Sagar Pradip R 23 October 2019 Role of AgustaWestland middleman in anti tank missile deal under lens The Week Retrieved 2 March 2023 a b Indian born Sudhir Choudhrie son dropped from bribery probe into Rolls Royce sales Sunday Times Reuters Reuters 7 September 2014 Retrieved 8 April 2022 PTI 2016 CBI registers FIR against NRI arms dealer in Embraer deal India Today Retrieved 8 April 2022 IANS 1 February 2017 Court accepts closure report in Barak missile deal Business Standard India Retrieved 8 April 2022 KK Sruthijith 2012 Agent Abhishek Verma Is he a billionaire behind bars or a high living poseur with a trail of debts The Economic Times Retrieved 8 April 2022 Bhalla Abhishek 2012 CBI books arms dealer Abhishek Verma under Official Secrets Act India Today Retrieved 8 April 2022 Court discharges Abhishek Verma in graft case The Economic Times 2017 Retrieved 8 April 2022 Canton Naomi 4 March 2022 bhandari Extradition hearing begins for Indian arms dealer Sanjay Bhandari who has fled to UK Times of India The Times of India Retrieved 8 April 2022 Canton Naomi 2021 Arms dealer Sanjay Bhandari extradition hearing fixed for February 2022 Times of India The Times of India Retrieved 8 April 2022 Chopper scam Spotlight on Tyagis for allegedly acting as middlemen The Economic Times 2013 Retrieved 8 April 2022 a b AgustaWestland VVIP Chopper Case Delhi HC reserves order on British Citizen Christian Michel bail plea ThePrint 18 February 2022 Retrieved 8 April 2022 Delhi HC dismisses bail plea of Christian Michel Hindustan Times 11 March 2022 Retrieved 8 April 2022 Retrieved from https en wikipedia org w index php title Defence industry of India amp oldid 1185065898, wikipedia, wiki, book, books, library,

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