India plans to become a military equipment exporter

India aims to shift from being a major importer of military equipment to a net exporter. Sanjay Seth, the Minister of State for Defence, announced this plan during the launch of a new stealth frigate in Panaji on Saturday. He emphasized the goal of reducing dependence on foreign suppliers and encouraging local defense companies to increase their production and export activities. The Indian government supplies military equipment to about 100 countries. Seth stated that India aims to reach ₹50,000 crore in defense exports by 2029. He highlighted that the country is now confident and capable of engaging with other nations on equal terms. The frigates launched are part of a contract with Russia, first established in 2016. While they utilize Russian technology, they contain 56% equipment made in India. The project has significantly contributed to the local economy, bringing in ₹7,000 crore and involving many small and medium enterprises. Seth noted that crucial components, such as steel and various weapon systems, are produced in India. Upadhyay, the chairman of Goa Shipyard Ltd, mentioned plans to achieve Navratna PSU status by 2027-28 and expected to deliver the first frigate to the Navy in 2026, followed by a second one six months later.