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The ongoing dialogue between India and the US in aerospace and defence sectors is likely to open up new business opportunities, according to experts who met here at a conference here today.
The bilateral trade between India and US which was about $20 billion in 2001 has grown to about $ 142 billion in 2018. And going by the various pointers, this could go up significantly, where aerospace and defense sector could be a major contributor.
Experts from the US and India at a two-day conference hosted by the Confederation of Indian Industry, Society of Indian Defence Manufactures, Business Council for International Understanding, in partnership with the US Consulate General in Hyderabad, discussed ways to expand the ties.
The objective of the conference is to further strengthen partnerships in the areas of joint research, development, and co-production of high-end defence technology and equipment.
‘Strong and growing’
As the meeting here coincides with the 2+2 meetings between India and the US in Washington, the Hyderabad conference is addressing practical implications for fostering such collaboration at the industry level.
Joel Starr, Deputy Assistant Secretary, Bureau of Political – Military Affairs, US Department of State; Joel Reifman, Consul General, US Consulate in Hyderabad were among those who spoke to highlight the potential for collaboration.
Joel Starr mentioned how the bilateral defense relationship between the United States and India is strong and continuing to grow. The partnership has evolved into a strategic relationship involving joint research, co-development and production of high-end defence equipment and expanded cooperation in the Indo-Pacific region.
The US and Indian companies are already collaborating in the co-production of C-130 transport aircraft, F-16 fighter planes, and Apache helicopters at joint facilities in Hyderabad.
The conference aims at gaining a deeper understanding of the US-India defence partnership, network with both key decision-makers and subject matter experts, and highlight private sector innovation and technologies for the defence sector.
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