India, South Korea agree to expand co-production of military equipment
The two sides also seek to convene joint committee meeting on defence industry cooperation
India and South Korea on Monday agreed to broaden defence cooperation by expanding joint production of military equipment. The two sides already co-manufacture the K9 Vajra, a specialised artillery gun, and now plan to extend the same manufacturing model to futuristic technologies, including air defence platforms.
The two sides also decided to launch a ‘Korea-India Defence Accelerator’ (KIND-X) innovation platform to connect businesses, incubators, investors, defence start-ups and universities from both sides.
The decisions were announced following summit talks between Prime Minister Narendra Modi and South Korean President Lee Jae Myung today.
The two leaders underscored the strategic importance of India-ROK cooperation in defence industries by reaffirming the 2020 MoU on the ‘Roadmap to Defence Industry Cooperation’. They expressed satisfaction over the successful joint venture for K9 Vajra artillery guns, with the second batch currently under production.
Efforts are also underway to replicate the K9 manufacturing model in other futuristic defence technology platforms like “self-propelled air defence gun-missile systems” and other areas of mutual interest.
Recognising innovation in the defence sectors of both countries, the two leaders announced that Defence Minister Rajnath Singh will visit South Korea next month for the joint inauguration of the War Memorial being built to commemorate India’s participation in the Korean War.
They also agreed to launch the India-ROK Industrial Cooperation Committee, a new dialogue mechanism involving ministers responsible for industries in both countries, with its first meeting to be held later this year.
The two sides will also seek to convene a joint committee meeting on defence industry cooperation and the inaugural Defence and Foreign Affairs 2+2 dialogue at the vice-ministerial level at a mutually convenient time.
President Lee Jae Myung was accompanied by a high-level delegation comprising ministers, senior officials, and leading CEOs of Korean companies.
