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FICCI welcomes the steps taken by US legislators towards elevating India's status as a defense partner

Capital Market 

FICCI welcomes the bipartisan support to the initiative taken by Representative George Holding (R-NC) to institutionalize the Indo-US defense relationship through an amendment to the National Defense Authorization Act, which was passed by the House on May 18.

This amendment recognizes India's status as a trusted defense partner of the United States and calls for a dedicated official in the executive branch and an official in the Department of Defense to focus on Indo-US defense cooperation, including the transfer of advanced defense technology.

Dr.

A Didar Singh, Secretary General, FICCI said This elevated status will not only fast track congressional approval of licenses but also give access to state of the art technologies of today, that would kick start coproduction and co-development activities thereby realising the objectives of both Make in India and DTTI.

Over the years, FICCI has been engaging with all the stakeholders through Track II diplomacy and outreach initiatives to boost high-technology trade, Dr. Singh added.

FICCI is hopeful that these encouraging steps by US legislators towards elevating India's status as a defense partner to a level equiva

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First Published: Fri, May 27 2016. 11:58 IST
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