“Indian Government is committed to the capacity building of the Vietnamese Armed Forces. We need to move to the next level of cooperation by providing assistance in developing the hardware of the Vietnamese Armed Forces and also the production capacity of the defence industry. Towards this the Indian Government has extended USD 100 million line of credit for defence procurement,” said HE Mrs Preeti Saran, Ambassador of India to Vietnam while speaking during the Seminar on Potential for India Vietnam Cooperation in Defence Industry in Hanoi on 9 July 2014.
HE Mr Nguyen Chi Vinh, Vice Minister of Defence of Vietnam welcomed the Indian assistance and expressed his hope to further strengthen the Indo-Vietnam strategic relations. Gen Vu Chien Thang, Director General of External Relations Department was also present in the Seminar.
Mr Sanjay Garg, Joint Secretary, Defence Industrial Promotion, Ministry of Defence who was leading the official delegation made a presentation on the Indian Defence industry’s capabilities and how these capabilities can be utilized to promote defence industrial cooperation between both the countries.
The Confederation of Indian Industry (CII) led delegation made several presentations on company specific capabilities ranging from design engineering to defence electronics to shipbuilding. CII has once again expressed its commitment to promote Public Private Partnership in the defence sector so that existing and upcoming capabilities can be optimally utilized not only to meet Indian Military Modernization requirements but also to supplement the similar requirements of the friendly foreign countries. Besides, strengthening defence industrial cooperation will also give the Indian defence companies access to the foreign markets. Government of India is also keen to expand the global footprints of the Indian defence companies.