Indian Economy News

India, South Korea agree on joint production, export of military hardware

As part of an overall expansion of defence and security relations, India and South Korea have planned to go for joint development and export of military hardware, strengthen intelligence sharing, and enhance partnerships in the cyber and space domains, according to official sources.

The decisions were concluded in the delegation-level meetings between Defence Minister Mr. Rajnath Singh and his South Korean counterpart Mr. Suh Wook on Friday, with both sides agreed to make a big push to strengthen relations in strategically important areas, according to the officials.

From Thursday to Friday, the South Korean minister was in India for a three-day visit aimed at strengthening bilateral defense and military cooperation.

According to reports, the two sides have agreed to concentrate on joint research, joint production, and joint export in the field of defense industrial cooperation.

India has received a lot of arms and military equipment from South Korea. The two countries agreed on a framework for joint development of different land and naval systems in 2019.

The South Korean minister also showed an interest in taking advantage of the opportunities in India's two defense corridors, especially through joint ventures under the 'Aatmanirbhar Bharat' (self-reliant India) initiative.

The government is attempting to develop two defense industrial corridors in the country, one in Uttar Pradesh and the other in Tamil Nadu, with the aim of ensuring connectivity between various defense industries.

The two sides have planned to make a stronger emphasis on cyber and space cooperation, as well as continue to streamline the intelligence sharing process.

The two ministers discussed the effect of the Covid-19 pandemic on defense and security engagements, as well as the armed forces' practice guidelines for coping with the pandemic.

The Korean minister also mentioned how India's Act East Policy and his country's Southern Policy are complementary.

Given India's experience with UN peacekeeping missions, the Indian side assured the South Korean delegation that it would participate appropriately in the upcoming UN Peacekeeping Ministerial Meeting in December 2021.

The South Korean minister also visited to Agra, where he was shown India's special forces capabilities. He also spoke with top executives from defense public-sector firms and leaders from the FICCI industry chamber.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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