India, Republic of Korea sign inter-governmental MoU

India and the Republic of Korea (RoK) have recently signed an Inter-governmental Memorandum of Understanding (MoU) for Defence Industry Co-operation in Shipbuilding. The MoU has been signed by the Secretary (Defence Production), Mr. Ashok Kumar Gupta from the Indian side and Minister of Defence Acquisition and Programme Administration (DAPA), Mr. Chang Myoung-Jin from the RoK side. The MoU will help the ‘Make in India’ initiative of the Government of India.
The MoU will help develop and strengthen defence industry co-operation between the Republic of India and the Republic of Korea. The two sides will recommend the organisations for collaborating in the implementation of specific projects. The organisations recommended for co-operative projects may conclude separate agreements (contracts) between them to implement the specific projects. The MoU will come into effect from the date of signature by both sides and will be initially valid for a period of five years and would be automatically extendable for further successive five year at a time.
To substantiate the ‘Special Strategic Partnership’, the two sides had inter-alia agreed to encourage greater co-operation between their shipyards in the defence sector. Accordingly, it was decided to sign an inter-governmental MoU on ‘Defence Industry Co-operation in Shipbuilding’. The Cabinet Committee on Security (CCS) has accorded its approval for signing the above MoU with RoK and also for nominating Hindustan Shipyard Limited (HSL), Visakhapatnam from the Indian side for the collaboration. RoK will indicate the name of its recommended organisation for the collaboration in due course of time.
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