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Indian defence firms eyeing Philippines market for military platforms
Industry News- Dec 14,23
A 2022 agreement solidified the purchase of three BrahMos batteries by the Philippines from India, totalling an estimated $375 million.
Indian defence companies, such as Kalyani Strategic Systems, Larsen and Toubro, and Hindustan Aeronautics, are actively exploring opportunities to market their military platforms to the Philippines, according to sources familiar with the situation.
In response to the Philippines' military restructuring efforts in the face of an assertive China, the country recently acquired the BrahMos cruise missile from India. A 2022 agreement solidified the purchase of three BrahMos batteries by the Philippines from India, totalling an estimated $375 million.
The aforementioned Indian defence firms have presented a spectrum of offerings, ranging from protective gear to fighter jets, to the Philippines, as disclosed by the anonymous sources.
HAL Chairman CB Ananthakrishnan stated, "Nigeria, Philippines, and Egypt are keen to procure Tejas Light Combat aircraft," referring to the indigenously designed multi-role fighter aircraft that has seen increased deployment in the Indian Air Force.
Reports indicate that Philippine officials have visited several Indian defense companies to assess their products. While negotiations are currently in the preliminary stages, officials have hinted at the possibility of finalized deals in the latter half of 2024.
Queries directed to Kalyani Strategic Systems and Larsen and Toubro have gone unanswered.
Earlier this year, a meeting between the foreign ministers of the two nations underscored the significance of defence cooperation. The joint statement released post-meeting highlighted collaborative efforts in defence agency interactions, the establishment of a resident defence attaché office in Manila, concessional credit for Philippine defence needs, naval asset acquisition, and the expansion of joint training and exercises.
In addition to military equipment, India has extended support in hydrography and maritime affairs. The joint statement emphasizes the mutual recognition of the maritime sector's growing importance, with both nations welcoming bilateral Maritime Dialogue and increased cooperation in hydrography.
India has set an ambitious goal to triple its annual defence exports to $5 billion by 2024-2025.
Source: Mint
Indian defence
Philippines
BrahMos
Kalyani Strategic Systems
Larsen and Toubro
Hindustan Aeronautics
Tejas Light Combat aircraft
China
India-Philippines deals
CB Ananthakrishnan
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