India, US finalise new defence cooperation agreement
14 March 2015
India and the US have finalised a new Framework Agreement on Defence Cooperation which would replace the existing deal which expires in June, government said today.
Defence Minister Manohar Parrikar, in a written reply in the Lok Sabha, said that a dialogue has been established between India and the US under the Defence Technology and Trade Initiative (DTTI) for co-development and co-production of unique and exceptional technologies of mutual interest.
Defence Technology and Trade Initiative is an establishment which the US and India have established to overcome obstacles in the release of technology to New Delhi.
Responding to another question, Parrikar said at present there is no proposal to set up a new laboratory of Defence Research and Development Organisation (DRDO) in the country.
"However, Hindustan Aeronautics Ltd proposes to set up a production unit in Tumkur district of Karnataka," he said.
The Bharat Dynamics Ltd also proposes to set up a unit at Ibrahimpatnam in Telangana and another unit in Amravati, Maharashtra, he said.
Source : http://economictimes.indiatimes.com/