“Defence PSUs and exports: How Modi, Rajnath and Jaishankar team crafted an astonishing success”, First Post, August 1, 2023:
“Last week, the defence ministry of Argentina signed a letter of intent to buy light and medium utility helicopters from Hindustan Aeronautics Limited (HAL). This is a landmark for HAL, as well as for India, in terms of supplying military hardware to countries around the world. But the success has not come suddenly.
To understand this better, take two simple numbers. The first is five times. That is how much the stock price of HAL has grown in the last five years. This has turned HAL into one of the highest valued public sector enterprises in India today. Its market capitalisation now compares with energy majors such as Coal India, Indian Oil and Bharat Petroleum.
The second number is even more impressive. Twenty-three times. That is how much India’s defence exports have grown in the last nine years. In the 2022-23 financial year, India had Rs 16,000 crore of defence exports, up from just Rs 686 crore in 2013-14…..”
Read the full article at Firstpost.com
