India Makes A Stab At Global Arms Selling
Defence experts say India has to export weapons to sustain its nascent arms industry as the orders placed by the country's military are small. Overseas orders are necessary to bring down the production costs.
At another level, India's presence in ADEX-2013 signifies the growing defence cooperation and strategic partnership between the two countries.
India-South Korean defence ties began in 2005, when the two countries signed a memorandum of understanding (MoU) on defence logistics and supplies. Defence Minister A.K. Antony visited South Korea in 2010 and two MoUs on defence-related exchanges of experience, information and futuristic joint defence technology development were signed.
The same year, the two countries declared a strategic partnership.
Apart from being one of the largest FDI contributors, South Korea has become a big-ticket supplier of weapons to India. It has a wide base of companies like Hyundai, Samsung, Daewoo and Korean Aerospace, and its capabilities in missile development and naval combat system are well acknowledged in the global arms market.
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