South Korean defense companies are planning to make an export breakthrough in India, one of the largest importers of weapons in the world, by participating in DEFEXPO 2020 scheduled for next month.
A total of 10 South Korean defense companies, including Hanwha, LIG Nex1, Korea Aerospace Industries and Hyundai Rotem, will exhibit their products at the expo held in Lucknow from Feb. 5 to 8. The biennial expo is the largest defense exhibition in India. Approximately 700 companies from 30 countries are expected to participate this year.
As of 2018, India’s defense spending totaled US$66 billion. In the period of 2008 to 2017, India accounted for 11.7 percent of the world’s conventional weapons imports. In 2018, India’s weapons imports added up to US$13.9 billion, second only to that of Saudi Arabia.
Hanwha is expected to export the BIHO Hybrid system via the expo. Earlier, India imported the K9 self-propelled howitzer from the company. In addition, the Ministry of Defence of India selected the system in 2018 as the only candidate satisfying the Indian Army’s requirements. The Indian government is currently reviewing its contract documents after a strong opposition from Russia.