Exports from Defence PSUs up 82%

NEW DELHI, May 15: Exports from Defence public sector undertakings (PSUs) will be worth Rs 300 crore in five years, the Parliamentary Consultative Committee of the Ministry of Defence was informed on Wednesday.presiding over the meeting, Minister of State for Defence N V N Somu said that in 1996-97 the exports were worth Rs 126.34 crore as against Rs 69.35 crore in the previous year, registering an increase of over 82 per cent.The eight PSUs under discussion included Hindustan Aeronautics Ltd, Bharat Electronics Ltd, Bharat Earth Movers Ltd, Mazagon Dock Ltd, Garden Reach Shipbuilders & Engineers Ltd, Goa Shipyard Ltd, Bharat Dynamics Ltd and Mishra Dhatu Nigam Ltd.The minister said that development of sophisticated equipment like the advance light helicopter and electronic and communication systems would boost exports.He further said that to speed up indigenisation, the 10-year self reliance mission, 1995-2005, had been launched with the objective of developing critical technology, upgradation of technology and induction of new systems.