India targets $6 bn arms export by 2029

India plans to export arms and ammunition worth $6 billion by 2029 with EXIM loans. For this, it is expanding the ability of the state-owned Export-Import Bank (EXIM) to offer long-term, low-cost loans to clients, including those whose political or credit risk profiles may limit their access to conventional financing. One market India is hoping to expand in is Brazil, where EXIM opened an office in January. New Delhi is in talks to sell Akash missiles to Brasília. It is also pursuing a deal to build battleships for Brazil. New Delhi is focusing its arms export strategy on countries in Africa, South America and Southeast Asia. India plans to despatch at least 20 new defence attachés to foreign embassies by March 2026, including Algeria, Morocco, Guyana, Tanzania, Argentina, Ethiopia and Cambodia, as per a report.

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