India markets defense equipment to Phl
The Indian government on Friday urged the Philippines to acquire defense equipment from Indian companies as it reiterated its willingness to help in the country’s military modernization initiatives.
In a seminar on Friday, Indian Ambassador to the Philippines Shambu Kumaran highlighted both countries’ growing synergy in addressing their shared common security challenges.
“And as two democracies, India and the Philippines have to work together to ensure that we create a regional and global environment that will allow us to address the fundamental requirements of our two nations, that is to create the enabling environment for our countries to grow,” Kumaran said.
Kumaran likewise touted the capabilities of Indian firms “across domains with cutting edge” to produce quality defense equipment and offer them at affordable prices.
At least 18 Indian companies promoted their defense assets during the Defense Industry seminar and B2B interaction which was attended by military personnel and Department of National Defense officials on Friday in Makati City.
Kumaran said the continuing engagement between the Philippines and India is significant in fortifying their defense relations.
“This is a critical component of a future defense partnership because we recognize that countries such as the Philippines — which has broad national security interests — will need to have some domestic industrial capacity, and we’d like to offer partnerships from India in building that capacity,” he said.
Kumaran stressed that India sees the Philippines as a vital partner in the Indo-Pacific region.
“We are invested together in working for a peaceful Indo-Pacific. We have, at multiple times, underlined that commitment at the highest political level,” he said.
Defense and security cooperation, he added, remains a critical element of the PhilippinesIndia bilateral partnership.
“I invite Philippine industry and the Philippine Armed Forces to look more carefully at India’s experience because India is a country that has managed to create national capabilities in the defense sector in a relatively short timeframe, through a pursuit of aggressive policies, and innovative adjustments in how it works on defense equipment so, therefore, I would urge you from the Philippine side to look at India’s experience deeply,” Kumaran urged.
India’s soft loan offer to the Philippines to fund its military modernization program remains on the table, Kumaran said.
“Our offer is very much on the table. We have announced our intent to offer a soft loan for defense procurements and this could also cover activities that would eventually extend to, you know, some sort of joint industrial activity so this is very much on the table,” Kumaran said on the sidelines of the Indian Embassy-led defense industry seminar.
The line of credit India is offering includes concessional interest rates to developing countries based on the national priorities of the borrowing nations.
The Export-Import Bank of India line credit is 1.75 percent, with a 20-year tenor and five-year moratorium, and no specific amount indicated at present.