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| Thursday, 5 February 2004 |
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Global weapons merchants gather at Indian arms fair NEW DELHI, Wednesday (AFP) Global armament companies Wednesday displayed their latest hardware for Asian buyers as nuclear-capable India said it would not allow funds shortages to slow its arms shopping spree. India launched its second international defence exhibition a day after Finance Minister Jaswant Singh announced a 250-billion-rupee (5.5-billion-dollar) defence modernisation fund to speed up arms procurements. "All this demonstrates that nothing is left to chance," Indian Defence Minister George Fernandes said, flagging off the four-day event which is playing host to more than 300 companies from 21 arms-selling countries. "And if we need more than 250 billion rupees, the money will be there," the defence minister told participants which included Britain, France, Israel, the United States and Russia, India's largest arms supplier. India last month signed a 1.5-billion-dollar deal for a Soviet-era Russian aircraft carrier as part of a rapid spate of arms purchases, ending what it called neglect of the country's armed forces, one of the largest in the world. The contract followed Indian purchases of 66 British Hawk jet trainers worth 1.66 billion dollars and stepped-up negotiations for six French Scorpene submarines worth around two billion euros (2.5 billion dollars). "There are reasons to feel good in the country," Fernandes said. Participants said India, which annually spends around 14 billion dollars on its military, rated high on their scales. The Indian government, which has engaged in a peace process with longtime foe Pakistan, has said the strengthening of national security is a major goal. The ruling Hindu nationalist Bharatiya Janata Party (BJP), expected to call elections for April-May, is a staunch proponent of a powerful armed forces. Britain's Defence Procurement Minister Lord Bach said the large British presence at the fair reflected growing interest in India's defence sector. "By attending this exhibition in such strength they show their commitment to the important Indian market," Bach said. At the exhibition, Indian companies also hawked indigenously-built military hardware to global merchants as well as shoppers. It put up for sale BraHmos, a cruise missile built jointly by India and Russia and successfully tested several times from Indian soil. "The BraHmos is an example of developing world-class weaponry with not so fancy price tags," said an official from the state-run Defence Research and Development Organisation, which helped build the cruise missile. Private firms such as India's Mahendra and Mahendra said they hoped to profit from the defence ministry's "feel-good" mantra. "We're discussing with India and also exploring the international market for our latest product," company executive Ashwani Sriniwas said, referring to a 18,000-dollar strike vehicle that can either launch anti-tank rockets or turn into an infantry combat vehicle. Phillipe Harache, Vice President of Eurocopter, a subsidiary of Europe's EADS company, said India's growing defence needs had created room for more business. "We want to renew cooperation after 40 years of success," he said, adding Eurocopter was now looking at the outright sale of rotorcraft to India as well as producing them in India through a licence. |
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