In a mega boost for the Indian Navy, the Cabinet Committee on Security has cleared the acquisition of over 200 BrahMos extended-range supersonic cruise missiles for deployment on its warships.
The deal worth around Rs 19,000 crore was cleared in a meeting held on Wednesday evening, top government sources told ANI.
The contract is set to be signed in the first week of March between the BrahMos Aerospace and Ministry of Defence.
The BrahMos is the main weapon for anti-ship and attack operations for the Indian navy warships which have been regularly firing the weapon system.
The BrahMos Aerospace is a joint venture of India and Russia and produces supersonic cruise missiles that can be launched from submarines, ships, aircraft, or land platforms.
The BrahMos missile has been indigenised in a big way by the BrahMos corporation and more parts are being indigenised.
The BrahMos missile is also set to be exported soon to the Philippines which is its first global customer.
Many countries in the Southeast Asian region have started showing serious interest in the missile system for deployment in multiple ways.
Brahmos Aerospace, headed by Atul Rane, is also working towards achieving the USD 5 billion export target set by Prime Minister Narendra Modi. The BrahMos Chairman had stated that after the first export deal with the Philippines at 375 million dollars, his team was targeting USD 5 billion by 2025.
The Indo-Russian joint venture company had conducted test firings of the missile with a high level of indigenous content, and the missile is being equipped with an indigenous seeker.
The BrahMos missile system sale to the partner countries is also set to open many more windows for other successful weapon systems like the Akash, ATAGS howitzers and other equipment from the Indian industry.
This Indian defence industry is also working on improving its hardware quality to match global competition and achieve success in export markets.
Indian systems are also being showcased in foreign countries and some of the public sector units have also opened up offices in prospective markets for sales and support.