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Home Investment

Def Minister pitches for French investments

Fiinews by Fiinews
September 11, 2020
in Investment, Manufacturing, Projects, Technology
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Rafale Induction

Defence Minister Rajnath Singh along with the Minister of Armed Forces of the French Republic Florence Parly in a group photograph in-front of Rafale aircraft at its formal induction ceremony, at 17 Squadron of Indian Air Force Station, in Ambala on 10 Sept 2020. At the ceremony were The Chief of Defence Staff (CDS), General Bipin Rawat, the Chief of the Air Staff, Air Chief Marshal R.K.S. Bhadauria and the Defence Secretary, Dr. Ajay Kumar.

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Rafale reflects India-France strategic relations

Defence Minister Rajnath Singh has pitched for French investments in the Indian defence manufacturing sector, following the induction of Rafale jets on 10 Sept 2020.

Many policy reforms have been initiated such as manufacturing of defence equipment under the Strategic-Partnership model, enhancing FDI up to 74% by automatic route, the establishment of two defence corridors in Uttar Pradesh and Tamil Nadu and reforms in Offsets.

“I am confident that French defence Industries will take advantage of this and France will continue to be our partner in our journey of indigenization”, he said.

Terming that the Rafale induction reflected close India-France strategic relations, Singh said, “we have cooperated closely in a number of areas to enhance our defence cooperation.”

As part of the transfer of technology agreement, six Scorpene submarines are being built at the Mazagaon Docks.

On the basis of this partnership, the first submarine, INS Kalvari was commissioned in 2017.

He also highlighted the Indo-French cooperation in dealing with common challenges like maritime security and piracy in the Indo-Pacific region and IOR.

The induction of Rafale was a historic moment and a very important milestone in the history of the IAF.

The Rafale deal was a game-changer for India’s national security and its induction is a strong message for the world and especially for those who challenge India’s sovereignty.

Rajnath Singh reiterated the resolve of not compromising India’s sovereignty and territorial integrity under any circumstances and the country’s determination to make all possible preparations for it.

“The intentions of the military are as strong as it can be,” he pointed out.

He also stressed that “strengthening our defence is aimed at achieving international peace and stability and we do not want to take any step that can endanger international peace. “We have the same expectation of our neighbours and other countries of the world,” said Singh. #defence #manufacturing #investment #MakeinIndia #industries #technologies #partnerships /fiinews.com

Tags: Ministry of Defence
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