Seoul: Defence Minister Rajnath Singh on Friday urged Indian and South Korean companies to actively collaborate with each other in the defence sector. Singh had a series of engagements with Indian and South Korean defence companies during his three-day visit to the Asian country.
At the CEOs Forum, over 25 Indian and Korean companies engaged in the defence sector made presentations on their products and capabilities and also shared their views on policy measures that are required to boost the partnership in the defence realm, an official statement said.
"In his remarks, the defence minister highlighted the measures taken by the Indian government to liberalise the defence sector and adopt policy measures to boost the 'Make in India' initiative in the defence sector. He encouraged Indian and South Korean companies to actively collaborate with each other and assured them of complete support from the government", it said. Representatives from Uttar Pradesh and Tamil Nadu governments made presentations on defence corridors.
The defence minister invited South Korean companies to participate in the DefExpo event in Uttar Pradesh in February 2020, the statement said. "Wang Jung-hong, Minister, Defence Acquisition and Program Administration, South Korea assured that he would encourage Korean companies to actively explore Indian opportunities", it stated.
Wang later joined Rajnath and General Park Han-ki, Chairman, Joint Chiefs of Staff, at a banquet hosted in honour of the visiting dignitary. During the visit, two MoUs were signed between Hanwha Defence International and Larsen and Toubro (L&T), and between Society of Indian Defence Manufacturers (SIDM) and Korea Defence Industries Association (KDIA).
The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
Updated Date: Sep 07, 2019 10:52:01 IST