Russia offers India to joint venture in defence manufacturing

Russia proposed to build manufacturing units in India to undertake co-production of defence equipment and also agreed to set up two major projects in a joint venture for manufacturing civil choppers and aircraft.
Both nations agreed on collaboration to jointly develop and manufacture civilian aircraft and helicopters especially for emergency relief and medical purposes. These aircrafts could be used not only for domestic use but also to export to third country exports. There is also a joint project under consideration that envisages for manufacturing in Indian factories different modifications of light helicopters Ka-226T for medical, rescue and other purposes. Russia has also made a new proposal involving IL-112V.
India demanded market access for Indian pharmaceutical products and asked for regulatory simplification for supply of Indian generic medicines to Russia.
India and Russia have designed a framework for tracking key priority projects at the Ministerial level. The sectors covered under this joint understanding include automobile, industrial and road-building machinery, chemical and petrochemical industry, civil aircraft construction, fertilizers, pharmaceuticals, energy, diamonds, IT, automobiles, and agro and processed foods.

Month: Current Affairs - September, 2013

Category: International / World Current Affairs