India US Bilateral Defence Trade Reach $18 Billion By Year End says Pentagon - Daily Current fairs

Breaking

Post Top Ad

Sunday, 20 October 2019

India US Bilateral Defence Trade Reach $18 Billion By Year End says Pentagon

 India US Bilateral Defence Trade Reach $18 Billion By Year End says Pentagon

The US Defense Department Pentagon has said that the defense business with India will reach 1.28 lakh crore rupees ($ 18 billion) by the end of this year. According to Ellen Lord, Deputy Minister of Takeover Affairs in the Ministry of Defense, the US is committed to strengthening military partnerships with India and also to increase military cooperation.

The statement from the Pentagon came just before the 9th DTTI meeting on Indo-US defense technology and trade issues. "There was no significant trade between the two countries in the defense sector until 2008, but after 11 years it would reach Rs 1.28 lakh crore," Lord said. Lord will visit New Delhi next week for a DTTI meeting. He will be accompanied by US Defense Department Security Minister Apoorva Chandra.

India is on par with NATO ally by US

Lord said, "In August this year, the US gave India tier-1 status among the countries holding diplomatic trade rights. As a result, India has got all the rights that the US-NATO allies - Japan, South Korea, and Australia have. After getting this status, American companies can directly provide high-tech weapons to India. Lord said these examples show that the United States favors relations with India in the Indo-Pacific region.

No comments:

Post a Comment

Post Top Ad