India-UK ink deal on defence industries

India-UK ink deal on defence industries

India and the UK on Thursday agreed to ink a comprehensive agreement to facilitate the setting up of defence industries in India on the basis of UK technologies.

This was decided at the first strategic dialogue between the two nations, chaired by the Defence Minister Arun Jaitley and his UK counterpart, Michael Fallon.

Establishment of the strategic partnership was the outcome of the December 2015 UK visit made by Prime Minister Narendra Modi.

“The two ministers agreed to extend the current Defence Equipment Cooperation memorandum of understanding and work towards early completion of an expanded MoU that will provide a platform for the UK and Indian industries to collaborate on and support transfer of technology on projects in areas of mutual interest,” said a joint statement. “Post Brexit, we are perfectly poised to be India’s financial partner of choice and its defence partner, too,” Fallon said.

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