Exhorting US companies to take advantage of the Modi government’s policy initiatives, 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’, according to an official release.
Addressing the members of American Chamber of Commerce in India (AMCHAM India) through video conferencing during its 30th Annual General Meeting on 21 April, Singh empahsised on the need to move India-US relationship from a “buyer-seller relationship to one of partner nations and business partners”.
“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, according to a Defence Ministry release. 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 strengthening the US-India relationship.