Minister of Defence, Finance and Corporate Affairs Arun Jaitley while inaugurating the India-Russia Military Industrial Conference said relations with Russia are a key pillar of India’s foreign policy and Russia has been India’s long-standing time-tested strategic partner since the last 70 years. The Minister stated that since the signing of the India-Russia Strategic Partnership in 2000, ties between the two sides have acquired new heights with enhanced level of cooperation in almost all areas including defence.

Jaitley further added that India-Russia Military Technical Cooperation has graduated from a simple buyer-seller relation to one involving joint research, development and production of advanced defence systems. The BrahMos Missile System as well as the licensed production of Su-30 in India are examples of such flagship cooperation, he emphasised. He called upon Russian companies to come forward for technology transfer to Indian companies and facilitate manufacturing of components/parts and subsystems at least for those cases where the requirement is in large numbers and is recurring in nature. The Minister was of the opinion that there is tremendous potential for collaboration between Indian and Russian companies for export, so as to become part of the global supply chain.

The Minister for Industry and Trade of Russian Federation, Denis Manturov who jointly inaugurated the conference also addressed the gathering. About 150 representatives from Russia are participating in the conference which includes over 100 representatives from its defence industry. Major Russian companies include United Aircraft Corporation, United Engine Corporation, RAC MiG, Russian Helicopters and Ural Vagonzavod. From the Indian side over 100 private companies including several SMEs have participated.