US bill focuses on co-production/co-development with India

US-India Business Council (USIBC) has come out in strong support of legislation that recognizes India's status as an essential US defence partner and facilitates additional co-production/co-development and trade. The trade body comprised of 350 top tier US and Indian companies advancing US-India commercial ties, Tuesday expressed support for a bill introduced in the House of Representatives by George Holding, Republican co-chair of the House India Caucus. The US-India Defence Technology and Partnership Act amends the Arms Export Control Action in order to formalise India's status for the purpose of congressional notifications as a major partner of equal status as America's treaty allies and closest partners. Defence trade between our countries is one of the strongest areas of the bilateral economic relationship and has risen from some $300 million to over $14 billion over the last 10 years. Cortesy: SME Times


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