Rajnath Singh Invites US Companies To Carry Out Joint R&D, Manufacturing & Maintenance

Defence Minister Rajnath Singh invited US companies to carry out joint R&D, manufacturing and maintenance of defence equipment to achieve the vision of ‘Make in India, Make for the World’.

The Defence Minister was addressing the members of the American Chamber of Commerce in India (AMCHAM India) through video conferencing during its 30th Annual General Meeting on April 21, 2022. He invited the US companies for co-production, co-development, investment promotion and development of Maintenance Repair and Overhaul facilities in India.

“Of late, some US companies have expanded their local presence in partnership with Indian industry to achieve our aim of ‘Make in India, Make for the World’. We believe this is just a beginning. With increasing business, we aspire for increased investments by US companies in India. Making full use of the Industrial Security Agreement, we need to facilitate collaboration & indigenisation of defence technology and boost the participation of US and Indian companies in each other’s defence supply chains. American companies are welcome to establish manufacturing facilities in India,” said Rajnath Singh.

Rajnath Singh listed out a number of initiatives taken by the Government to facilitate partnerships between major Original Equipment Manufacturer (OEMs) and Indian companies.

“From increase in FDI limit to improving ease of doing business and from encouraging innovation through the iDEX platform to an enhanced positive list to give fillip to manufacture in India, the government is sharply focussed on enhancing the share of defence manufacturing, export by India-based companies and joint ventures,” he said.

Rajnath Singh pointed out that US companies have not only been a source of FDI & employment in India, but are also contributing to India’s defence exports, totalling around $2.5 billion to US in last five years, which is 35 per cent of total exports achieved during the period.

The Defence Minister termed the recently held India-US 2+2 Ministerial Dialogue in Washington as positive and fruitful, saying that the defence sector is a strong and growing pillar of the bilateral relationship. India and US are uniquely poised to leverage each other’s strengths for a mutually beneficial and bright future, he said.

“Both India and US share a common vision of a free, open, inclusive and rules-based Indo-Pacific and Indian Ocean Region. The India-US Comprehensive Global Strategic Partnership is of critical importance for international peace, stability and prosperity,” Rajnath Singh added.

He termed the India-US economic relationship as one of the defining business relationships of the 21st century.

Rajnath Singh added that during the 2+2 Ministerial meeting, India and US confirmed their intent to advance cooperation in Critical and Emerging Technologies such as advanced communication technology, artificial intelligence, quantum science, STEM, semi-conductors and biotechnology.

AMCHAM-India is an association of American business organisations operating in India. Established in 1992, AMCHAM has over 400 US companies as members.