Indian, Russian companies ink 14 defence MoUs

Lucknow, Feb 6 (SocialNews.XYZ) As many as 14 MoUs were signed between Russian original equipment manufacturers (OEMs) and Indian companies on Thursday at Defexpo currently on in Lucknow.

The MoUs were signed during the fifth round of India-Russia military industrial conference which was co-chaired by Ajay Kumar, Defence Secretary, and Oleg Ryazantsev, Deputy Minister of Industry and Trade of Russian Federation.

During the conference, 14 MoUs were exchanged between the Russian OEMs and the Indian companies. The first 'Request for Proposal' for manufacturing of parts in India under the provision of inter-governmental agreement was also handed over by the Indian Navy to the identified Indian industry.

Representatives from both the countries acknowledged that the MoUs would pave the way for more contracts for joint manufacturing of spares parts.

Kumar said the Inter-Governmental Agreement on joint manufacturing of spares in India has been signed at Vladivostok, Russia on September 4, 2019.

The IGA provides framework for partnership of Russian OEMs with Indian industry for manufacturing of spare parts of Russian origin equipment in use by the Indian defence forces.

Kumar said the Indian side has taken steps to expedite the collaboration between the Indian and Russian companies as the country looks forward to expeditious commencement of manufacturing in India.

Ryazantsev said the Russian side would actively participate in the collaborations under the ambit of the Inter-Governmental Agreement and would take all necessary steps to facilitate manufacturing of parts in India.

Source: IANS