The story so far: On January 28, Philippines signed a $374.96 million deal with BrahMos Aerospace Pvt. Ltd. for the supply of shore based anti-ship variant of the BrahMos supersonic cruise missile. This is the first export order for the missile which is a joint product between India and Russia and also the biggest defence export contract of the country. This adds impetus to the efforts to boost defence exports and meet the ambitious target set by the Government to achieve a manufacturing turnover of $25 billion or ₹1,75,000 crore including exports of ₹35,000 crore in aerospace and defence goods and services by 2025.
THE GIST
- On January 28, Philippines signed a $374.96 million deal with BrahMos Aerospace Pvt. Ltd. for the supply of shore based anti-ship variant of the BrahMos supersonic cruise missile. This is the biggest defence export contract of the country.
- BrahMos is a joint venture between India’s DRDO and Russia's NPO Mashinostroyeniya. Beginning with an anti-ship missile, several variants have since been developed and it can now be launched from land, sea, sub-sea and air against surface and sea-based targets.
- From 2016-17 to 2018-19, the country’s defence exports have registered a staggering 700% growth. There have been a series of measures announced to promote domestic defence manufacturing as well as efforts to boost exports.
