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Sep 15, 2021
6:35PM

Indo-US cooperation will go long way to restore normalcy besides further boosting economic dynamism: Defence Minister

@rajnathsingh
Defence Minister Rajnath Singh has said the Indo-US cooperation will go a long way to restore normalcy besides further boosting the economic dynamism.
 
He said, pandemic has brought new challenges in terms of disruption to supply chains, downturn in industrial activities, negative growth in travel and tourism industries.
 
Mr Singh said this while addressing the Indo-US Economic Summit’ organised by the Indo-American Chamber of Commerce through a video conference.
 
He said, the economic and technological cooperation between India and the United States became stronger in the post-cold war era, much stronger during the global war against terrorism and still more robust alongside Indo-US strategic partnership.
 
The Minister said, the Foreign Original Equipment Manufacturers can set up manufacturing facilities individually or partner with Indian companies through a Joint Venture or technology agreement to capitalize on the Make in India opportunity.
 
He expressed hope that there is a lot of scope for the American and Indian defence Industries for co-production and Co development.
 
He said, the Indian industry can also supply components to American Industries.
 
Mr Singh said, the American Firms such as Lockheed Martin and Boeing already have a major presence in India and he is confident that other American firms will also find New Delhi as a major investment destination for Defence Manufacturing. The Minister said, the time is ripe for Indo-American Business Cooperation to move forward from a buyer-seller relationship to a more meaningful and sustainable economic and business cooperation benefiting both the countries.

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