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October 26, 2020

India-US bilateral defence trade to reach $18 billion this year

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The bilateral defence trade between Indian and the US is expected to reach USD 18 billion by year-end, the Pentagon said on Saturday. The statement comes ahead of the ninth India-US Defence Technologies and Trade Initiative or DTTI group meeting in New Delhi next week.

The DTTI seeks to identify opportunities for co-development and co-production of military hardware, collaborate on science and technology projects. However, jointly explore policy changes needed to further the military relationship.

Undersecretary Of Defense For Acquisition And Sustainment Ellen M Lord said they commit the US to strengthen its partnership with India. However, while furthering military-to-military relationships and cooperation.

Bilateral defence trade zero in 2008, will reach an estimated USD 18 billion later this year

By this year India-US bilateral defence trade to reach $18 billion

At a meeting of the Defence Policy Group in August, India and the US took stock of ongoing cooperation in recent years in defence trade, technology, procurement, industry, R&D and mil-to-mil engagement.

However, Lord heads to New Delhi next week to co-chair the ninth India-US Defence Technologies.

Trade Initiative or DTTI group meeting with her co-chair Secretary for Defence Protection Apurva Chandra.

As the US Department of Defense leads for DTTI. He excited to continue working with our Indian major defence partner

She said the US granted the India Strategic Trade Authority Tier 1 designation last August, providing New Delhi. However, with greater supply-chain efficiency by allowing American companies to export a greater range of dual-use.  High-technology items to India under streamlined processes.

Also, this grants India the same authorization as NATO allies Japan, South Korea, and Australia

The US Senate, in June, passed a legislative provision that brings India at par with America’s NATO allies. Countries like Israel and South Korea for increasing defence cooperation.

These examples show how the United States and India are working bilaterally. In cooperation with other like-minded partners to advance our shared vision for the Indo-Pacific.

Responding to a question, she said she personally has seen an uptick in the pace. However, of movement in India and the willingness to engage.



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