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Home » Economy » Arun Jaitley for JVs with Russian defence firms
Arun Jaitley for JVs with Russian defence firms

Arun Jaitley for JVs with Russian defence firms

Defence Minister Arun Jaitley has urged Russian defence companies to set up local joint ventures with Indian firms to produce spares and components for use by the Indian military as well as for exports. He is currently on a three-day visit to Russia.

“Russian companies may identify some items for which they can set up joint ventures with Indian companies so that these items can be supplied across the world.

“Keeping this in mind, we have also streamlined the process of export clearances in last two years.

“India’s export control processes and technology security mechanisms are robust as required in the interest of national security,” Mr. Jaitley said in his address at the 5th International Forum for Technological Development TECHNOPROM on Wednesday.

Mr. Jaitley said India was all set to “join the multilateral Wassenaar Arrangement” very soon which would “further simplify the regulations”.

Long-term pacts

India has been pushing for long-term agreements with Russian companies for spares and components as well as setting up local ventures to support the large arsenal of Russian military equipment which has been regularly plagued by maintenance issues.


Source: The Hindu

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