NEW DELHI — Cyprus is considering procurement of defence equipment from India, signalling a strategic pivot that could bolster New Delhi's ambitions to emerge as a significant arms exporter in global markets.
The development assumes significance as India attempts to reduce its longstanding position as the world's largest arms importer while simultaneously building its credentials as a reliable supplier of military hardware to friendly nations.
Defence exports from India have witnessed steady growth in recent years, with the government actively promoting indigenous manufacturing under the Atmanirbhar Bharat initiative. The sector recorded exports worth approximately ₹16,000 crore in FY23, reflecting increased international confidence in domestically produced military equipment.
A potential Cyprus deal would expand India's defence customer base beyond traditional buyers in Southeast Asia and Africa, opening doors to Mediterranean markets. The arrangement could encompass a range of products including surveillance systems, coastal security equipment, and light weaponry manufactured by public and private sector entities.
Industry analysts suggest such agreements strengthen India's position in the global defence trade while generating employment across manufacturing hubs. The move aligns with New Delhi's objective of achieving defence exports worth ₹35,000 crore by 2025.