Wednesday June 20, 2018
Home Business US investment...

US investments and technology partnerships with India set to grow

0
//
78
Republish
Reprint

Washington: Ahead of Indian Defence Minister Manohar Parrikar’s visit to the US, a key trade group has expressed confidence that as India continues reforms US investments and important technology partnerships with Indian industry will grow significantly.

Members of the US-India Business Council (USIBC) comprising 350 top-tier US and Indian companies hosted a Defence Policy Group (DPG) delegation from India ahead of Parrikar’s visit to the US in December. Senior Indian defence ministry officials are in the US for bilateral meetings with the US Department of Defence to discuss progress on joint initiatives such as the US-India Defense Policy Group (DPG) and Defence Technology and Trade Initiative (DTTI).

Welcoming the delegation to Washington, USIBC President Dr Mukesh Aghi welcomed Government of India’s recent announcements allowing FDI up to 49 percent under the automatic route and beyond that with the Foreign Investment Promotion Board’s (FIPB) approval.

Former US Secretary of Defence, William S. Cohen, and board member of USIBC said he was encouraged by the unprecedented level of engagement between the two governments and the private sector in the area of defence.

“As the Government of India continues its reform effort and streamlines the defence procurement process, I am confident that US investments and important technology partnerships with Indian industry will grow significantly in support of India’s indigenization and national security goals,” he said.

Swami Iyer, Vice President, Honeywell Defense and Space, and Chair of USIBC’s Defence Executive Committee said: “With diligent collaboration, both government and industry can showcase Make in India and India’s improved ease of doing business in current and future defence procurements.”

“We believe continued success in US-India defence trade can be a great enabler for India’s economy and national security.”

The US-India bilateral defence relationship has grown in a robust manner from a mere $200 million in defence trade in 2000 to over $14 billion.

Boeing recently announced that it had won a $3 billion contract from the Indian Ministry of Defence for production, training and support of 22 AH-64E Apache attack helicopters and 15 CH-47F Chinook heavy-lift helicopters.

The order includes options to further buy 11 Apache and 7 Chinook helicopters. These aircraft are being acquired by the Indian Government on Direct Commercial Sales (DCS) basis while their weapon systems like radars and missiles would be through the Foreign Military Sales (FMS) route from the US Government.

(Arun Kumar, IANS)

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

Badshah: Indians Don’t Take Rapping Seriously

Sunidhi and Badshah will be judging the second season of the reality show "Dil Hai Hindustani"

0
Badshah Says, Indian Don't Take Rapping Seriously
Badshah Says, Indian Don't Take Rapping Seriously, flickr

Rapper and music composer Badshah, who is excited about his new reality show “Dil Hai Hindustani 2”, says that rapping is not taken seriously in India as an art form.

Badshah was interacting with the media at the launch of Star Plus channel’s forthcoming reality show along with singer Sunidhi Chauhan on Monday.

Badshah, who has delivered some chart-busting rap songs like “Chull”, “Saturday Saturday” and most recent “Tareefan” is eager to spread awareness about rap as an art form.

Talking about it, he said: “Rapping along with dance and stand-up comedy is not taken seriously as an art form in India and this misconception should change.”

“That is one of the main reasons why I have chosen to be a judge on the show. But apart from that, I’m here to have fun as well, and have a better connection with the audience,” he added.

Badshah
Badshah, flickr

The rapper is also gearing up to produce Bollywood and Punjabi movies and also launching a web series soon through his production house.

Talking about the future of the digital platform, Badshah said: “I think it (digital media) is the future, so it’s very important for any production house right now to concentrate on digital media.”

Sunidhi and Badshah will be judging the second season of the reality show “Dil Hai Hindustani”, along with Bollywood singer and composer Pritam.

Also read: Malaysian Rapper’s Dog Video Sparks Claim of Insulting Islam

The show, which first aired in January 2017, provides a platform for people from all over the world and of varying age groups to showcase their talent in Indian music. (IANS)