Rajnath Singh urges companies to join India's 'Make for World' drive

Speaking at the American Chamber of Commerce in India's (AMCHAM) Annual General Meeting, Defence Minister said, "I exhort companies to take advantage of policy initiatives in India to steadily march from 'Make in India' towards 'Make for the World'. This includes co-production, co-development, investment promotion, and the development of MRO facilities in India."

New Delhi: Defence Minister Rajnath Singh on Thursday underscored the importance of strengthening the commercial and economic pillars between India-US and extended an invitation to the US companies to set up a base in India and to take advantage of policy initiatives to steadily march from 'Make in India' towards 'Make for the World'.

Speaking at the American Chamber of Commerce in India's (AMCHAM) Annual General Meeting, Defence Minister said, "I exhort companies to take advantage of policy initiatives in India to steadily march from 'Make in India' towards 'Make for the World'. This includes co-production, co-development, investment promotion, and the development of MRO facilities in India."

Ths event took place at the backdrop of the recently concluded 2+2 dialogue where the minister said he received a positive response from American leadership for co-development, co-production and investments in research and industry in India.

Talking about the 2+2 dialogue, the Defence Minister highlighted that "We have concluded the critically important MoU on Space Situational Awareness, to open doors to new engagements in space."

Noting the common vision of the Indo-Pacific and Indian Ocean Region, the minister said, "India-US have a growing convergence of strategic interests as both countries seek a resilient, rules-based international order, that safeguards sovereignty and territorial integrity, upholds democratic values and promotes peace and prosperity for all.

He further said India-US Global Strategic Partnership is based on multifaceted cooperation. "Prime Minister Modi and President Biden are committed to strengthening US-India cooperation on clean energy, technology, defense engagements and to expanding economic and people-to-people ties," added the minister.

"I want to underline the importance of strengthening the commercial and economic pillar of the India-US partnership to advance economic growth and deliver mutual prosperity for both the countries," said Rajnath Singh.

Terming India-US economic ties as one of the defining business relationships of the 21st century, the minister said that there has been a rebound in bilateral trade between the two countries over the last year, surpassing USD 113 billion in goods.

In the context of this increasing trade, the India-US Trade Policy Forum discussions to expand bilateral trade, remove market access barriers, and improve ease of business become increasingly important, the minister noted.

(With inputs from Agencies)