 "Govt okays export of Akash missile system, aims to hit $5 bn defence export")
The Cabinet on Wednesday approved the export of Akash Missile System aiming to achieve the target of USD 5 billion of defence export and improve strategic relations with friendly foreign countries, said Defence Minister Rajnath Singh.
The Union Cabinet was chaired by Prime Minister Narendra Modi. Akash is country's important missile with over 96 per cent indigenisation. Akash is a Surface-to-Air Missile with a range of 25 Kms. The missile was inducted in 2014 in Indian Air Force (IAF) and in 2015 in Indian Army.
Singh said a committee for faster approvals for the export of such platforms has been created.
"Under the #AtmaNirbharBharat, India is growing in its capabilities of manufacturing wide variety of Defence platforms & missiles. The Cabinet chaired by PM @narendramodi ji today approved the export of Akash Missile System and a Committee for faster approvals has been created," Singh said in a tweet.
The decision by the Cabinet would help the country to improve its defence products, he said.
"So far, Indian defence exports included parts/components etc. The export of big platforms was minimal. This decision by the Cabinet would help the country to improve its defence products and make them globally competitive," Singh said.
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"The Government of India intends to focus on exporting high value defence platforms, to achieve target of 5 Billion USD of defence export and improve strategic relations with friendly foreign countries," he added.
Besides Akash, there is interest coming in other major platforms like Coastal Surveillance System, Radars and Air platforms, said an official statement.
"To provide faster approvals for export of such platforms, a Committee comprising of Defence Minister, External Affairs Minister and National Security Advisor has been created. This Committee would authorise subsequent exports of major indigenous platforms to various countries. The Committee would also explore various available options including the Government-to-Government route," the statement added.