The aerospace and defence manufacturer is actively seeking a solution to meet Argentina’s legal requirements, which currently prohibit the use of British-made components, as shared by Ananthakrishnan.

The Prime Minister of India, Narendra Modi seeks to more than triple the South Asian nation’s overseas defence sales.

Modi is determined to transform India into a key defence manufacturer, targeting an ambitious goal of achieving $5 billion in annual exports by the financial year ending March 2025.

Despite a surge in substantial orders from the Indian defence forces, exports currently constitute a mere 1% of revenues for the fighter jet maker. To enhance exports, Hindustan Aeronautics is establishing offices in select overseas markets.

The company is actively involved in discussions with the Nigerian Army Aviation and the Argentine Air Force to provide officer training and supply spares, as outlined in its latest annual report.

Last month, the Nigerian Air Force announced it had struck a deal with an Italian defence company for the supply of 24 M-346 master aircraft.

The deal is said to be worth around €1.2bn, and the aircraft is expected to be delivered to the Nigerian Air Force in 2024. The Master aircraft would replace the ageing Dassault Alpha jet A/E, and enhance Nigeria’s aerial capabilities and bolster its defence strategies.

Over the past decade, Nigeria has been confronted with security challenges, particularly insurgency in the north. Groups such as Boko Haram and Islamic State West Africa have managed to gain control of significant areas of ungoverned space in the region, conducting attacks and kidnappings across the country.

Consequently, the country has found itself compelled to spend more on defence than it normally would. In 2019, the total allocation to the defence sector was N589.955 billion.

However, looking ahead to 2024, a substantial budget of N3.25 trillion, equivalent to 12% of the overall budget, has been earmarked for the provision of military, police, intelligence, and paramilitary forces.