DEFENCE MINISTER INVITES COMPANIES FOR JOINT VENTURES IN INDIA

The Defence Minister while addressing the members of American Chamber of Commerce in India (AMCHAM India) through video conferencing during its 30th Annual General Meeting on April 21, 2022, invited the US companies for co-production, codevelopment, investment promotion and development of MRO facilities in India. He exhorted US companies to take advantage of the policy initiatives taken by Prime Minister Narendra Modi to achieve the vision of ‘Make in India, Make for the World’. Rajnath Singh pointed out that US companies have not only been a source of FDI & employment in India, but are also contributing to India’s defence exports, totalling around $2.5 billion to US in last five years, which is 35 per cent of total exports achieved during the period. He underlined the importance of strengthening the commercial and economic pillar of the IndiaUS partnership to advance economic growth. There has been a rebound in bilateral trade between the two countries over the last year, surpassing $113 billion in goods. AMCHAMIndia is an association of American business organisations operating in India.