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DefExpo 2020 - Indian & Russian firms sign 14 MoUs

Published: Feb 06, 2020

By TIOLCorplaws News Service

LUCKNOW, FEB 06, 2020: THE 5th round of India-Russia Military Industrial Conference (IRMIC) was conducted today on the sidelines of Defexpo-2020 at Lucknow. The conference was co-chaired by Dr. Ajay Kumar, Defence Secretary from the Indian Side and Mr. Oleg Ryazantsev, Deputy Minister of Industry and Trade of Russian Federation.

Dr. Ajay Kumar, in his opening remarks brought out that the Inter-Governmental Agreement (IGA) on Joint manufacturing of spares in India has been signed at Vladivostok, Russia on 4th September, 2019. The IGA provides framework for partnership of Russian OEMs with Indian industry for manufacturing of spare parts of Russian origin equipment in use by the Indian Defence Forces. Dr Ajay Kumar further elaborated that the Indian side has taken a number of steps to expedite the collaboration between the Indian and Russian Companies and looks forward for expeditious commencement of manufacturing in India. The Russian Deputy Minister, Mr. Oleg Ryazantsev highlighted that the Russian side would actively participate in the collaborations under the ambit of the IGA and would take all necessary steps to facilitate manufacturing of parts in India.

A large number of delegates from Indian and Russian defence sector companies participated in the conference and discussed the way forward to achieve the objectives of Inter-Governmental Agreement under the Make in India initiative.

During the conference a total of 14 MoUs were exchanged between the Russian OEMs and the Indian companies. The first 'Request for Proposal' for manufacturing of parts in India under the provision of IGA was also handed over by the Indian Navy to the identified Indian industry. The sides acknowledged that this would pave way for more cases and contracts for joint manufacturing of spares parts, in the days ahead.

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