India offers cheap loans for arms, targeting Russia's traditional customers

Prime Minister Narendra Modi’s drive to turn India into a global factory has already brought billions of dollars to the state coffers, from mass production of smartphones to cheap pharmaceuticals. But he now hopes to add missiles, helicopters and warships to the “shopping cart” of foreign governments. The world’s largest arms importer after Ukraine is expanding the ability of the state-owned Export-Import Bank to offer long-term, low-cost loans …

India Targets Global Arms Market: Offers Cheap Loans for Weapons, Targets Russia's Customers

India aims to boost arms exports with low-cost financing options, targeting nations that traditionally relied on Russia for military supplies. India's defense exports are set to grow, including missiles, tanks, and helicopters.

India offers cheap loans for arms, targeting Russia's traditional customers

Prime Minister Narendra Modi's bid to transform India into a global factory floor has produced billions of dollars of low-cost iPhones and pharmaceuticals. Now he hopes to add missiles, helicopters and battleships to the shopping carts of foreign governments.

India carving niche as budget friendly arms-maker for Russia's past buyers

The effort aims to capitalize on a sourcing scramble since the outbreak of war in Ukraine by nations that had historically relied on Washington and Moscow for weapons.

The world's most populous country wants to step into Russia's shoes, and will also offer customers favorable long-term loans.

Defence Exports and Relations

When the Prime Minister said to go ‘vocal for local’, he also meant that products be made competitive vis-a-vis global brands. Tata Motors - India’s leading auto brand - seems to have solidified the brand’s stance for the ‘Vocal for Local’ initiative, by manufacturing high-end military support vehicles not just for the country, but one that fits the purpose of international defence deals. Tata Motors - India’s leading auto brand - seems to…