Article Posted on : - Oct 22, 2021

NEW DELHI (PTI): The Government is currently finalising guidelines to export refurbished weapons and equipment to friendly foreign countries, Defence Minister Rajnath Singh told a Parliamentary Committee meeting on Thursday.

The old weapons and equipment of the Indian armed forces will be first refurbished by the defence industry and then exported to friendly foreign countries, the Minister said in Bengaluru during a meeting of Parliamentary Consultative Committee on Defence, according to officials.

They said that the Minister told the committee during his speech that the "implementation guidelines" for export of refurbished of old defence items are being "finalised".

According to the officials, Singh told the committee that the Government has set a target of Rs 35,000 crore (US$ 5 billion) exports in aerospace and defence goods and services by 2024-25.