Egypt, Malaysia looking to replace their ageing fleets with India's Tejas fighter jets
Story highlights
India is transforming from a buyer to a seller in the global weapons industry, which is worth more than $1.8 trillion
In a bid to replace their ageing fleets, Malaysia and Egypt are looking to buy India's Tejas fighter jets.
The jets, which are used for the advance level of pilot training programme, are getting a lot of inquiries after it was revealed that they cost less than $40 million per unit.
India is transforming from a buyer to a seller in the global weapons industry, which is worth more than $1.8 trillion.
trending now
Experts raise fears over British astronaut's prosthetic leg potentially poisoning space station
Israel frees 33 Palestinian prisoners in exchange of 11 hostages after extension of truce
Tennis: Aryna Sabalenka to play at Brisbane International in warm-up for Australian Open defence
President Joe Biden 'horrified' by shooting rampage that killed US Palestinian students, says White House
Robert De Niro claims his speech was censored during Gotham Awards ceremony
Gravitas: China's Xi Jinping is falling from his pedestal, here are the details
Avatar 3 is in "hectic two years of post-production" reveals James Cameron
Passport renewal becomes a nightmare for US doctor. Here's what happened
Late Show with Stephen Colbert cancelled due to host's appendix surgery
Elon Musk says ready for 'help' to destroy Hamas
Michael Waldron takes charge of Avengers: The Kang Dynasty script
Gigi Hadid sparks outrage on social media as she accuses Israel of 'organ harvesting'
BAN vs NZ 1st Test Live Streaming: When and where to watch Bangladesh vs New Zealand 1st Test LIVE in India
Alia Bhatt is the latest target of a deepfake video after Rashmika Mandanna and Katrina Kaif
BAN vs NZ 1st Test: Check date, time, venue, probable playing XI, head-to-head record, weather & pitch report
)
)
)
)
)
)
){kind=avatar}
)
)
)
)
)
)
)
)
In the last five years, India was the largest arms importer in the world with the country buying 11 per cent of the global share. But since 2017, India'a purchase of arms and ammunition has fallen by 21 per cent.
India is now moving towards local production with three countries including Egypt, Malaysia and Singapore showing keen interest in procuring its weapons.
Following Russia's invasion of Ukraine, several Western countries have imposed crippling sanctions against Moscow.
Experts believe this is a good opportunity for India to capitalise on the arms race and capture the growing and profitable market.
Since 2015, India's weapons export has increased six times with Hindustan Aeronautics Limited (HAL) receiving numerous orders for Tejas jets which is a single-engine supersonic jet.
India offered to set up a maintenance facility in Malaysia so that it chooses Tejas over China's JF-17, South Korea's FA-15, and Russia's MiG-35.
Egypt, which is looking for light combat jets, is looking to replace its Dassault/Dornier Alpha jet that it procured in the 1980s.
India has offered to set up factories in Egypt and produce the Tejas jets in the country as a result of which it will get foreign investments and jobs as well.
The strategic move will help India supply its weapons in Northern Africa and West Asia, where several regional conflicts are taking place.
Currently, the arms bazaar is a buyer's market with countries looking to spend millions of dollars for weapons.
With so many available options, countries that are manufacturing weapons are offering incentives to those looking to purchase them.
