STOCK MARKET BSE NSE

Taranjit Singh Sandhu urges shipbuilding industry in India, US to fully utilise bilateral instruments

India's Ambassador to the US Taranjit Singh Sandhu said shipyards in India today make some of the most complex ships and submarines.

Published: 25th March 2021 11:41 AM  |   Last Updated: 25th March 2021 11:41 AM   |  A+A-

India US flags

For representational purposes (File Photo | Reuters)

By PTI

WASHINGTON: A top Indian diplomat has urged the shipbuilding industry in India and the US to fully utilise the strategic trade authorisation license exemption granted by Washington to New Delhi, as well as the bilateral Industrial Security Annex Agreement.

Speaking during a webinar, India's Ambassador to the US Taranjit Singh Sandhu said shipyards in India today make some of the most complex ships and submarines.

However, for some of the core technologies, India looks up to its friends like the US.

The United States has these technologies, however, the high cost of labour does not make it cost-effective.

"There is a strong case for us to work together with the advantage of cutting-edge technology of the US and India's cost-competitive skilled labour," he said during his address at a webinar on 'Shipbuilding Opportunities in India'.

"We urge industries on both sides to make full utilisation of the strategic trade authorisation license exemption granted by the US to India in 2018, as well as the bilateral Industrial Security Annex Agreement signed in 2019. Together we can reach out to the global markets and make for the world," Sandhu said.

"With our joint efforts we can produce some of the world's finest and most economical platforms for our partners and friendly nations," he said.

Organised by the US-India Strategic and Partnership Forum in partnership with Mazgaon Dock Ltd, the first ever high-level industry interaction on opportunities for increased US-India collaboration on shipbuilding, repair and maintenance was also addressed by Raj Kumar, secretary of Defence Production in India's Defence Ministry.

Discussions during the virtual conference focused on greater collaboration between US and Indian industry leaders across defence and commercial shipbuilding sectors.

Representatives from several US companies like Huntington Ingalls Industries, BAE Shipyard, L3 Harris, Lockheed Martin, Cornett Technologies, Telephonics and Geomardy participated in the conference.

The Indian side was represented by CMDs of Mazagon Dock, Cochin Shipyard, Goa Shipyard, L&T Kattupalli, Garden Reach Shipbuilding, Hindustan Shipyard Limited, Chowgule Shipyard and PTCIL.

India in recent years has been increasingly looking to expand its shipbuilding industry.

Over 90 per cent of shipbuilding in 2018 took place in China, South Korea and Japan.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp