A total of 14 MoUs were exchanged between the Russian Original Equipment Manufacturers (OEMs) and the Indian companies today on the sidelines of the ongoing DefExpo-2020.
The 5th round of India-Russia Military Industrial Conference (IRMIC) was conducted on the second day of the DefExpo-2020 at Lucknow. The conference was co-chaired by Dr. Ajay Kumar, Defence Secretary from the Indian Side and Oleg Ryazantsev, Deputy Minister of Industry and Trade of Russian Federation. 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.
The first ‘Request for Proposal’ for manufacturing of parts in India under the provision of Inter-Governmental Agreement (IGA) was also handed over by the Indian Navy to the identified Indian industry. Both sides acknowledged that this would pave way for more cases and contracts for joint manufacturing of spares parts, in the days ahead.
The Inter-Governmental Agreement (IGA) on Joint manufacturing of spares ( click link to read) in India was signed at Vladivostok, Russia on September 4, 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. The objective is to modernise India’s defence platforms and manufacture equipment to give a massive boost to the two nations’ exports to third countries
Russian Deputy Minister, Mr. Oleg Ryazantsev ensured that OEMs 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.