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Posted on 08/23/2024 1:32:54 AM PDT by Cronos
Revival of India's defence deals with Ukraine will be one of the key areas of focus for PM Modi since the supply chain has been disrupted by the ongoing war with Russia. The ripple effects of this damage have been felt globally, making the potential discussions on defence during the visit all the more significant
"In 2023, the Ukrainian defence industry produced weapons and equipment worth $3 billion, adding 1.5% to the country's GDP growth", wrote Wilson Center in its 'Defense Technology Investment in Ukraine Is Attractive but Awaits Greater Risk Insurance'. The report also highlights the challenges and opportunities for the Ukrainian defence industry. The country's largest state-owned company, Ukrainian Defence Industry JSC, increased its production by 92% in 2023-24 but still lags behind local and privately-owned defence companies, especially in terms of R&D. At this juncture, the Ukrainian defence manufacturing industry, once an 'export-driven empire', needs to enhance its engagement with several international stakeholders to 'reclaim the fading glory'.
(Excerpt) Read more at thehindu.com ...
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