WEB DESK
Defence Minister Rajnath Singh has exhorted US companies to take advantage of the policy initiatives taken by NDA government in India and carry out joint Research and Development, manufacturing and maintenance of defence equipment to achieve the vision of ‘Make in India, Make for the World’.
He was addressing the members of American Chamber of Commerce in India virtually during its 30th Annual General Meeting today. He invited the US companies for co-production, co-development, investment promotion and development of Maintenance Repair and Overhaul facilities in India.
He listed a number of initiatives taken by the Government to facilitate partnerships between major Original Equipment Manufacturers and Indian companies.
The Defence Minister pointed out that US companies have not only been a source of FDI &and employment in India but are also contributing to India’s defence exports, totalling around 2.5 billion dollars to US in the last five years. He said, the participation of US entities in joint R&D and industrial collaboration with Indian public and private sectors will be important for the success of ‘Aatmanirbhar Bharat’ and further strengthen the US-India relationship.