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India Taps Nigeria, Argentina, Philippines to Sell Fighter Jets - BLOOMBERG
BY , Bloomberg News
(Bloomberg) -- India’s state-owned Hindustan Aeronautics Ltd. is in talks with at least three countries to export its homemade multi-role fighter jets as Prime Minister Narendra Modi seeks to more than triple the South Asian nation’s overseas defense sales.
Discussions with Nigeria, Philippines and Argentina to export the Tejas fighter jets are progressing, C. B. Ananthakrishnan, chairman of Hindustan Aeronautics, told reporters in New Delhi. Egypt has also shown interest in the light combat aircraft but talks are at a preliminary stage, he said.
The aerospace and defense manufacturer is also trying for a workaround to comply with Argentina’s legal requirements that don’t allow British made components, Ananthakrishnan said.
Exports make up just 1% of revenues for the fighter jet maker that has seen a surge in large orders from the Indian defense forces. Hindustan Aeronautics is opening offices in some overseas markets and is engaging with Nigerian Army Aviation and Argentine Air Force to train officers and supply spares to help boost exports, according to its latest annual report.
Modi wants to make India a major defense manufacturer with an aim to hit $5 billion in annual exports by the financial year ending March 2025.
