With the opening up of the Defence sector to private sector as part of ‘Make in India’ initiative, Defence Minister Arun Jaitley on Wednesday urged the Russian Defence manufacturing sector to enter into joint ventures with their Indian counterparts as the two countries shared time tested strategic and Defence ties.
Addressing the plenary Session of the 5th International Forum for Technological Development (TECHNOPROM) in Novosibirsk, he said the NDA Government has initiated a series of policy and procedural changes to facilitate tie-ups, including joint ventures and technology partnerships between Indian and foreign companies. Jaitley is in Russia on a three-day visit starting Wednesday to discuss the entire gamut of Defence ties with that country.
Russian companies, which already have a long experience of working in India and working with India are well placed to take a leading role in this process, the Minister said adding Russia as India’s largest, oldest and most trusted partner in Defence hardware and equipment, would have a comparative advantage in partnering with Indian companies for realising ‘Make in India’ potential in Defence production.
Noting that this year, India and Russia are celebrating the 70th anniversary of the establishment of diplomatic relations, Jaitley said since the signing of the Declaration of India-Russia Strategic Partnership in 2000, bilateral ties have witnessed enhanced levels of cooperation in a wide range of areas.
Indian companies are already gearing up by developing capabilities for design and development and cost effective and state of the art technological capabilities of Russian companies can be an important asset, he said while inviting Russian companies to come forward with proposals for technology transfer to Indian companies and facilitate manufacturing of more advanced components, parts and sub-systems.
Russian companies can be natural partners of the Indian companies as most of Indian Defence equipments and inventory are of Russian origin. A large industrial base and supply chain can be created for manufacturing of spare parts and components of such platforms to be made in India by Indian companies either through transfer of technology form Russian original equipment manufacturers or through joint ventures between Indian and Russian companies, he said.