Australia Keen To Make Investment In Indian Defence Manufacturing Sector
Indian and Australian Defence Ministers meet to discuss bolstering their defence ties
The defence manufacturing sector in India is on the move and has huge potential for profitable investment. So even the Australia’s defence industry is keen to make investments in India. The two countries have discussed ways to bolster defence ties and cooperate on maritime security in the Indo-Pacific region, where China’s military strength and influence have grown.
Indian Defence Minister Rajnath Singh said there are opportunities for joint development and production of emerging defence technologies and mutual logistical support.
“India is committed to raising a robust partnership with Australia for security and growth of the entire region,” he said on Friday after a meeting with Australia’s Defence Minister Peter Dutton.
India, till recently was the to importer of military equipment and a major part of the import use to come from the former Soviet Union our most trusted and dependable friend. Russia is still the top supplier and trusted friend in the current geopolitics. However for certain advanced technologies India has also diversified and France and Israel have become two other dependable friend.
With relationship improving with USA, India has been diversifying some of its purchases by choosing US equipment as well in key areas like P8Is Long Range Maritime Recce aircrafts, MH64 naval helicopters, Chinook and Appache helicopters, C130 Hercules and c17 transport aircrafts and few light guns etc.
However since 2014 the emphasis has shifted to Made in India. Now in 2021, India is importing less than 30 % of its total requirements. By 2030 this should reduce and import should be less than 10% of the total requirements.
Now India and Australia are working to enhance posture in the Indian Ocean region by ramping up air force cooperation, maritime engagement and exercises. Dutton said in a statement after their talks that the two countries have been seizing the momentum to drive greater progress between their defence forces.
“India’s leadership is central to Australia’s Indo-Pacific strategy. It is in the sovereign interests of us both to align our strategy, our capability, and our resources,” said Dutton.
Australia’s foreign and defence ministers are visiting Indonesia, India, South Korea and the United States to bolster economic and security relationships within the Asia-Pacific region, as tensions are rising between China and Australia.
Dutton and Foreign Minister Marise Payne are holding joint talks with their Indian counterparts on Saturday to discuss economic security, cybersecurity, climate, critical technology and supply chains, Payne said before leaving Australia.
The meetings between India and Australia are taking place as their maritime forces are participating in the MALABAR 2021 exercise in the Philippine Sea.
The United States, India, Japan and Australia make up the four Indo-Pacific nations known as the Quad, which is seen as ensuring full freedom of navigation in Indo Pacific and economic cooperation between all the countries. This will surely erase any Chinese hegemony in the Region. Beijing has called the Quad an attempt to contain its ambitions.