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Jaitley for JVs with Russian defence firms

22 Juin 2017

"We recognise that in today's fast moving world of technological innovation and information driven business models, manufacturing can thrive only if we are able to establish a symbiotic relationship between innovation and enterprise", Jaitley said while addressing the forum., PTI reported.

Jaitley, who is on a four-day visit to Russian Federation, held a meeting along with the 5th edition of TECHNOPROM, an annual forum focussing on innovation & tech.

The Union Defence Minister was speaking at the TECHNOPROM 2017 in Novosibirsk, Russia.

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.

Stating that Technoprom, in the five years since its inception, has grown to become a leading global forum in the area of technology with over 50 business events and an impressive 6,000 participants, Jaitley said the focus this year was on breakthrough technologies in the scientific, technological and innovative fields. On Friday, Jaitley will co-chair the 17th meeting of the inter-governmental commission on militarytechnical cooperation with Russian General Sergey Shoygu in Moscow to discuss several bilateral military projects. "Russian Federation has been a trusted and time-tested partner".

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Addressing the fifth plenary session of the International Forum for Technological Development " TECHNOPROM" here, Jaitley said Russian Federation would have a comparative advantage in realizing the potential of "Make in India" in defence production.

Russia's weapons exporter Rosoboronexport expects to sign a contract with India soon on the delivery of S-400 Triumf air defence missile systems, the report said quoting Rosoboronexport Head Alexander Mikheyev, as saying at the Le Bourget worldwide aerospace show on Wednesday.

He said, it will help in opening up advanced areas of cooperation which will benefit the future generations.

Jailtey said India's later introduction of Buy (IDDM)', under the 2016 edition of Defence Procurement Procedure, first preference would be given equipments, which are designed, developed and manufactured within the country. "This can start with platforms of Russian origin where the requirement is in large numbers and is recurring in nature", appealed Jaitley at the forum. Almost three weeks after Indian Prime Minister Narendra Modi and Russian President Vladimir Putin announced the upgrade of Indo-Russia defense ties, Jaitley arrived in Moscow for two important high-ranking gatherings.

In this context, he said, Russian companies, which already have a long experience of working in India and working with India, are well placed to take a leading role.

Jaitley for JVs with Russian defence firms