In­dia and Repub­lic of Korea sign in­ter-gov­ern­men­tal MOU on ship­build­ing


In­dia and the Repub­lic of Korea (RoK) signed an in­ter-gov­ern­men­tal mem­o­ran­dum of un­der­stand­ing (MoU) for de­fence in­dus­try co-op­er­a­tion in ship­build­ing in New Delhi on April 21, 2017. The MoU was signed by Sec­re­tary (De­fence Pro­duc­tion), Ashok Ku­mar Gupta and the Min­is­ter of De­fence Ac­qui­si­tion and Pro­gramme Ad­min­is­tra­tion (DAPA), Chang My­oung-Jin from the RoK side. The MoU will help the ‘Make in In­dia’ ini­tia­tive of the Govern­ment of In­dia.

The MoU will come into ef­fect from the date of sig­na­ture by both sides and will be ini­tially valid for a pe­riod of five years and would be au­to­mat­i­cally ex­tend­able for fur­ther suc­ces­sive five year at a time. The In­ter-Gov­ern­men­tal MoU, was con­ceived un­der the over­all um­brella of the ‘Spe­cial Strate­gic Part­ner­ship’ be­tween both sides as de­clared in the Joint State­ment of the Prime Min­is­ter of In­dia and the Pres­i­dent of RoK in May 2015.

To sub­stan­ti­ate the ‘Spe­cial Strate­gic Part­ner­ship’, the two sides had in­ter-alia agreed to en­cour­age greater co-op­er­a­tion be­tween their ship­yards in the de­fence sec­tor. Ac­cord­ingly, it was de­cided to sign an in­ter-gov­ern­men­tal MoU on ‘De­fence In­dus­try Co-op­er­a­tion in Ship­build­ing’.

The Cabi­net Com­mit­tee on Se­cu­rity (CCS) has ac­corded its ap­proval for sign­ing the above MoU with RoK and also for nom­i­nat­ing Hin­dus­tan Ship­yard Limited (HSL), Visakha­p­at­nam from the In­dian side for the col­lab­o­ra­tion. RoK will in­di­cate the name of its rec­om­mended or­gan­i­sa­tion for the col­lab­o­ra­tion in due course of time.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.