In order to look beyond trade in defence equipment, India and UK have decided to expand bilateral strategic ties in defence sector. Prime Minister Narendra Modi invited British companies to build partnerships with Indian enterprises that focus on manufacturing, technology transfer and co-development.
Modi has said that in the current global environment both the countries were facing several economic challenges, which directly affects trade and commerce. But he is confident that together they can leverage their scientific strengths and technological prowess to create new opportunities. He also highlighted that bilateral trade has remained at the same level for the past five years and investments in both directions have been robust.
Narendra Modi and UK Prime Minister Theresa May have recognized the potential for cooperation in defence manufacturing between UK and Indian companies in the 'Make in India' framework and agreed to encourage and facilitate such cooperation. The UK will continue their engagement with the Indian Ministry of Defence (MOD) and Indian defence companies to simplify and expedite export controls and to support the transfer of technology to enable projects in areas of mutual interest.
Earlier, the two Prime Ministers also tasked the Defence Consultative Group (DCG) to advance the bilateral defence cooperation agenda, including the UK's proposals for capability partnerships, through a range of activities including military to military cooperation, training, exchange of subject matter experts, research and technology linkages as well as defence manufacturing.