Over 200 partnerships involving Signing of MoUs, ToTs and Product launches concluded on 3rd day of DefExpo 2020

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Feb 07, 2020

8:28PM

Over 200 partnerships involving Signing of MoUs, ToTs and Product launches concluded on 3rd day of DefExpo 2020

@DefExpoIndia

Over 200 partnerships involving Signing of Memorandum of Understanding (MoUs), Transfer of Technology (ToTs) and Product launches were concluded on the third day of DefExpo 2020 at Lucknow in Uttar Pradesh. The pacts inked in a ceremony tilted Bandhan, were aimed at forging and renewing partnerships for innovative collaboration, and transformation of the Defence manufacturing in the country.

They were signed by representatives of various DPSUs, Indian private Defence companies and foreign companies in the presence of Defence Minister Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath in Lucknow. On this occasion, the Defence Minister said that the signing of MoUs are a step in the direction to achieve Prime Minister’s 5 billion dollar defence exports target in next 5 years.

Dr. Ajay Kumar, Defence Secretary said that this DefExpo would be remembered for many firsts - including for the signing of largest number of MoUs, ToTs and product launches. Bandhan ceremony witnessed more than 13 product launches, 124 MoUs between DPSUs, private and global defence manufacturing companies. 23 MoUs were signed between the UP Government and private companies.

71 MoUs were inked yesterday, including 14 between Indian and Russian companies. UP Chief Minister said, 23 MoUs will attract 50,000 crore rupees investment in the defence corridor setup in the state and generate 3 lakh job opportunities.