Artillery price

Indian company lands $155.5 million export order for artillery guns | Latest India News

Indian defense company Kalyani Strategic Systems Limited has won an export order worth $155.5 million to supply artillery guns to a friendly foreign country, a first such order to a company local for the 155mm weapons system, people familiar with the development said on Wednesday.

The company has not yet revealed the name of the foreign customer or the quantity of weapons to be delivered.

“This order, in a non-conflict zone, is a great testament to the program of the Aatmanirbhar Bharat (Self-Governing India) government and its sustained efforts to promote exports of advanced locally designed and manufactured (IDDM) defense platforms since India,” the company informed the Bombay Stock Exchange on Wednesday.

Kalyani Strategic Systems, a wholly owned subsidiary of Bharat Forge, will fulfill the order over the next three years. The firm was in talks with Saudi Arabia for the possible sale of its Bharat 52, a 155mm/52 caliber artillery gun, HT learned.

The development comes at a time when India has stepped up its focus on penetrating overseas markets, has set itself a target of reaching defense exports worth $5 billion by 2025 and has taken a series of policy measures to stimulate indigenous defense manufacturing. It also comes from the fact that the Philippines ordered BrahMos missiles and Armenia chose to buy Pinaka multi-barreled rocket launchers from India.

India recorded defense exports worth 30,000 crore since 2014, with the first six months of the current financial year alone accounting for export orders worth 8,000 crore, officials said. India’s defense exports peaked in 2021-22, with the figure reaching 13,000 crores and the private sector accounting for 70% of exports, a result of government policies aimed at boosting the export of military equipment to friendly foreign countries.

India has also imposed a phased import ban on 411 different weapons and systems over the past two years to boost the indigenous defense manufacturing sector. These weapons and platforms are expected to be indigenized in phases over the next five to six years.

In December 2020, the Union Cabinet gave the green light for the sale of Akash missile systems to friendly foreign countries, and also established a high-level panel for faster approval of defense exports.

“India has a good strategy and action plan in place, backed by forward-looking policies, to ensure self-reliance in defense and enhance the country’s status as a net exporter of weapons in the years to come,” said Lieutenant General Vinod, an expert in military affairs. Bhatia (retired) had said earlier.

The government granted nearly a thousand export permits last year, nearly four times the number approved five years earlier, and cut the timeframe for such permits by a third between 2017 and 2021.

Defense Minister Rajnath Singh earlier called on India’s defense industry to step forward and manufacture modern and cost-effective defense products to achieve the government’s vision of a ‘New India’. which can not only meet its own needs, but also meet the requirements of other countries.