Rajnath Singh encourages Russian industry to jointly manufacture defence equipment with India
Hopes for a massive boost to the nations’ exports to third countries
India’s Defence Minister Rajnath Singh recently called upon the Russian Defence Industry to jointly manufacture defence platforms and equipment with India that will give a massive boost to the nations’ exports to third countries. The minister was addressing CEOs of Original Equipment Manufacturers (OEMs) from Russian Defence Industry after jointly inaugurating ‘India-Russia Defence Industry Cooperation Conference’ with Russian Minister of Industry and Trade Denis Manturov in Moscow, Russia.
He further said, Government of India is encouraging OEMs to partner with Indian entities making use of the ‘Make in India’ initiative. He urged the Industry leaders to make use of the significant economic reforms undertaken by the Government, under the leadership of Prime Minister Narendra Modi, to improve ease of doing business and opening up the defence manufacturing sector for foreign participation.
“We have set up defence corridors in Uttar Pradesh and Tamil Nadu and offer attractive terms for investment. India is ready to explore opportunities and co-production of high-end defence equipment with Russia. We want collaboration with you to modernise our defence platforms by advanced and emerging technology. Indian MSMEs seek footholds in the global supply chains with support from Russian and other foreign companies,” said Rajnath Singh. He added that such industrial partnership can also address ‘After Sales Support of Equipment of Soviet or Russian origin’ already in Service with Indian Defence Forces.