March 8, 2023
2 mins read

Dhaka to leverage India’s military-industrial complex

Bangladesh is also taking a fresh look at importing weapons from India, which is building its own military-industrial complex under the Aatmanirbhar Bharat route. …reports Mahua Venkatesh

New Delhi is ready to partner with Bangladesh in its military modernization exercise through the $500 million line of credit, Pranay Verma, India’s High Commissioner who organised a seminar in Dhaka said. New Delhi and Dhaka signed their first defence deal last year during Bangladesh Prime Minister Sheikh Hasina’s visit to India.

The deal was signed amid rising dissatisfaction in Dhaka over the quality of Chinese weapons and equipment.

Bangladesh is also taking a fresh look at importing weapons from India, which is building its own military-industrial complex under the Aatmanirbhar Bharat route. New Delhi hopes to increase its export. Last month Prime Minister Narendra Modi at the Aero Show announced that India hopes to export $5 billion worth of military hardware by 2025 compared to about $1.5 billion in 2021-21.

“Today, India is not just a market for defence companies, it is also a potential defence partner,” he said. “I call on India’s private sector to invest more and more in the country’s defence sector.”

At the fourth India-Bangladesh Annual Defence Dialogue that was held in New Delhi in August last year, the two sides agreed to elevate bilateral engagements and cooperation between their armed forces.

India, with its aim to achieve “Aatmanirbharta” or self reliance in the defence sector is encouraging private sector participation in this crucial area, dominated by the public sector until recently. The military industrial complex will go a long way in pushing the role of private sector in this sector.

According to DD News, proposing joint development and production of defence equipment, Verma pointed out that both sides must take full advantage of this arrangement. Verma also highlighted the accomplishments of the Indian defence industry over the last nearly a decade driven by Prime Minister Narendra Modi’s vision of ‘Make in India, Make for the World’, the news organisation noted.

India is already looking at expanding its defence exports. The Prime Minister has now set a defence export of $5 billion in the next three year against the current military export of $1.5 billion.

“India has rejuvenated its defence sector in the last 8-9 years. We consider it just the beginning and aim to take defence exports to $5 billion by 2024-25. We will strive to be one of the world’s largest defence manufacturing bases,” Modi said while inaugurating the Aero Show in Bengaluru.

Defence manufacturers from India both from the public and private sectors participated at the seminar. Officers from Bangladesh Armed Forces along with personnel from paramilitary forces and law enforcement agencies were also present on the occasion.

Earlier at the Aero India show held in Bengaluru, Defence Minister Rajnath Singh also held a bilateral meeting with Security Advisor to Bangladesh PM, Maj Gen Tarique Ahmed Siddique.

ALSO READ: Jaishankar, Jolie discuss trade, connectivity

Previous Story

Indo-French climate satellite successfully brought down

Next Story

China’s trade slumps in first two months of 2023

Latest from -Top News

Bangladesh dengue death toll hits 245 in 2025

Presently, 977 patients are undergoing treatment in Dhaka, while 2,793 are undergoing treatment at various hospitals in Bangladesh…reports Asian Lite News One person died due to dengue in Bangladesh in the 24

Torkham remains closed for seventh day

Afghanistan and Pakistan have agreed to an immediate ceasefire following more than a week of intense fighting …reports Asian Lite News Amid escalating tensions between Pakistan and Afghanistan, the Torkham border crossing

India expands naval reach amid Indo-Pacific tensions

India’s renewed naval diplomacy coincides with heightened activity by external powers in its strategic maritime neighbourhood….reports Asian Lite News Amid growing tensions in the Indian Ocean and evolving power dynamics across the

Beijing Targets Hong Kong Democracy

Latest annual UN report highlighted the growing and sophisticated trend of cross-border repression targeting human rights activists…reports Asian Lite News The United Nations, in its latest report on reprisals, revealed that two
Go toTop

Don't Miss

India extends $500 mn LOC to crisis-hit Lanka

The Indian support for fuel imports by Sri Lanka from

High-level panel urges govt to take steps to eliminate NEET

The committee’s report, derived from comprehensive data analysis and feedback