New Delhi. Defense Minister Rajnath Singh has said that India and France will further strengthen their defense industrial partnership. Addressing the CEO of the French defense industries in Paris today, Rajnath Singh called upon the French companies to upgrade the technology by supporting technology in India’s shipyards and defense industries. He asked the French companies to make India a hub for the production of defense equipment as well as to export to other countries.
In his address, Rajnath Singh said that we have made significant economic reforms to improve ease of doing business and have opened up our economy to investment. Our government has invited large scale foreign companies under the Make in India program in the defense manufacturing sector under the leadership of Prime Minister Narendra Modi.
Rajnath Singh focused on the importance of GST, calling it the biggest tax reform since independence. He said that we have recently reduced corporate tax drastically and if there is a need to further rationalize taxes under the Make in India program in defense sector, this will also be considered. The Defense Minister commended the French companies for regularly participating enthusiastically in the Defense Exhibitions held in India. He extended a special invitation to the French companies to participate in the Defense Exhibition to be held in Lucknow from 05 February 2020 to 08 February 2020. He said that Lucknow has been a culturally rich city and the people of France have been great admirers of the culture. Lucknow is the capital of Uttar Pradesh, which is also a land of new opportunities.
Defense Minister Rajnath Singh focused on India’s need for Aero Engine for civil and military sectors. He requested the French companies to explore the possibility of developing an aero-engine complex in India and said that French companies can take advantage of low wages and availability of technical skilled people in India. India Ambassador to France Vinay Quatra delivered the welcome address at the event. On this occasion, Additional Secretary in the Ministry of Defense, Barun Mitra also gave a presentation on Defense Exhibition 2020. Defense Secretary Dr. Ajay Kumar also addressed the CEO.