USIBC Hosts Indian Defense Shri Manohar Parrikar for an Industry Roundtable; Provides Recommendations on Ease of Doing Business in the Defense Sector
Dialogue between government and industry focuses on deepening the partnership and defense co-production/ co-development opportunities
FOR IMMEDIATE RELEASE
August 30, 2016 – Washington, D.C. – The U.S.-India Business Council (USIBC) hosted a roundtable between the Indian Minister of Defense, Shri Manohar Parrikar and senior executives of American aerospace and defense companies in which Minister Parrikar was also provided a report with recommendations on Ease of Doing Business in India’s defense sector.
“We are pleased to present the Minister with a report on practical steps that can be taken to improve ease of doing defense business in India. Our members are keen to pursue joint American and Indian private sector partnerships to support Prime Minister Modi’s forward- leaning defense procurement reforms. Our recommendations aim to expand investment flow into India’s defense sector,” said Mukesh Aghi, President, USIBC.
This year the Obama administration recognized India as a “Major Defense Partner” and committed to “facilitating technology sharing with India to a level commensurate with that of [America’s] closest allies and partners.” Legislation introduced by Republican elected officials that expresses a similar position is currently being considered by the U.S. Congress, which demonstrates unprecedented American political support for the U.S.-India defense partnership. Participants at the USIBC roundtable discussed ways of integrating India into the global supply chain and facilitating the export of defense goods and technologies.
“We have only begun to see the results that come from combining the experience and expertise of the worlds’ leading aerospace providers with remarkable engineering capability and intellectual talent in one of the world’s fastest growing economies,” said Marc Allen, president Boeing International. “Minister Parrikar’s work to create a larger and more robust Indian defense industrial base has spurred substantial increases in U.S. investments and partnerships in India.”
“Lockheed Martin is proud of the manufacturing work by our Joint Ventures in India to produce major components of helicopters and transport aircraft that are used around the world. We are working to grow our partnerships even further to support the Make in India initiative. We are excited about the continuing reforms under the leadership of PM Modi and Minister Parrikar that will help to realize the tremendous potential of India’s defense industry,” noted John C. Rood, Senior Vice President, Lockheed Martin International
About the U.S.-India Business Council: Formed in 1975 at the request of the U.S. and Indian governments, the U.S.-India Business Council is the premier business advocacy organization, comprising 400 top-tier U.S. and Indian companies advancing U.S.-India commercial ties. USIBC is the largest bilateral trade association in the United States, with liaison presence in New York, Silicon Valley, and New Delhi.
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