Economy

Deals worth $3.5-b likely to be inked during Parrikar’s US visit

Nayanima Basu New Delhi | Updated on January 22, 2018

Defence Minister Manohar Parrikar



Defence deals worth $3.5 billion are expected to be signed during Defence Minister Manohar Parrikar’s meeting with his American counterpart Ashton Carter in Washington on December 10.

The big defence deals that are likely to be signed under the Defence Trade and Technology Initiative (DTTI) will include purchases of P-81 maritime patrol aircraft, C-17 globemaster-III and M777 ultra-light howitzers for the Indian armed forces, sources told BusinessLine.

Parrikar, who is on his maiden visit to US as Defence Minister, will be meeting Carter informally on December 9, followed by a formal round of talks on December 10 at Pentagon.

According to a Pentagon statement, both Parrikar and Carter will be holding the talks in Pentagon, after which they will be travel to Norfolk, Virginia, to inspect a ship.

While India is seeking more cooperation in the defence sector from US in terms of joint production and development, the US is pushing India to relax some of the offset norms, especially transfer of technology under the revised Defence Procurement Procedure (DPP).

FDI limit

The American defence industry has been also rallying behind their government to nudge India into allowing 74 per cent foreign direct investment (FDI) in defence.

Both sides will also be discussing the modalities in accordance with 2015 Framework for the US-India Defence Relationship that comprises increased intelligence exchanges, maritime security and shipping data.

Published on December 08, 2015

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like