Rajnath Singh Invites US Defense Firms to Help Boost India’s Export

Defense Minister Rajnath Singh said orders from US companies increased India's arms exports and created jobs in India. He said that the Indian companies exported about $2.5 billion to the United States over the past five years, accounting for 35% of the total arms exports achieved during that period.

The Defense minister addressed the American Chamber of Commerce in India (AMCHAM India) through a video conference at the 30th Annual General Meeting on Wednesday. AMCHAM India was founded in 1992 and has more than 400 US companies as members.

The defense minister invites the American companies to take advantage of PM Narendra Modi’s policy initiatives, including “Atmanirbhar Bharat” and carry out joint R&D, co-production, co-development, investment promotion, and development maintenance, repair, and overhaul of facilities in India.

He also urged Indian and US firms to make full use of the Industrial Security Annexure to participate in each other’s defense supply chains. The ISA was signed earlier in December 2019 to facilitate the exchange of classified information between the defense industries for bot both countries.