Saturday, 22 April 2017

India, South Korea sign MoU on shipbuilding >> News by Ripples Financial Advisory

India and South Korea on Friday signed a MoU for defense industry cooperation in shipbuilding, an official statement said. The MoU, signed by India's Defence Production Secretary Ashok Kumar Gupta and South Korean Defence Acquisition and Programme Administration Minister Chang Myoung-Jin, focuses on developing and strengthening defense industry co-operation between the two countries, which will recommend the organizations for collaborating in the implementation of specific projects.

The organizations recommended for co-operative projects may conclude separate agreements (contracts) between them to implement the specific projects, the statement said, adding the MoU will also help the Indian government's 'Make in India' initiative.

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