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FICCI welcomes STA-1 status

Washington eases export controls

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Washington eases export controls

 

Lockheed Martin Logo
Among American technology companies, fighter jet group, Lockheed Martin has strong interest in India.

 

The Federation of Indian Chambers of Commerce and Industry (FICCI) has welcomed the award of the Strategic Trade Authorization-1 (STA-1) status by the United States, giving India access to the advanced technology.

The status allows the US to ease export control requirements on the sale of certain high technology items and technologies in sensitive areas like chemical and biological weapons, nuclear, defence and special materials.

As a result of this development, India now has access to the same level of technology that the US offers to its NATO allies, Japan, South Korea and Australia.

FICCI Secretary General Dilip Chenoy hailed the news as a landmark development towards further cementing the India-US strategic ties.

“India’s status as an STA-1 country will allow for greater opportunity for the two countries to engage in co-development and co-production in these sensitive areas,” said Chenoy.

He added, “At the global level, this will also strengthen the case for India’s entry into the Nuclear Suppliers Group (NSG).”

“The move is a testament to India’s adherence to rule-based multilateral export regime and also a recognition of India’s growing importance to the US as a key economic and strategic partner,” said Chenoy.

Washington announced the STA-1 status on 31 July 2018.

American companies, including fighter jet group Lockheed Martin, have maintained strong interest in participating in India’s industrial and defence programmes. fiinews.com

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