UK India Business Council Current Affairs - 2020
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The Society of Indian Defence Manufacturers (SIDM) and UK India Business Council (UKIBC) signed Memorandum of Understanding to bring upon closer defence ties between the countries. The agreement was signed at DefExpo that is being held in Lucknow.
The MoU was signed to build partnership between Aerospace and Defence sector of the countries. It will also help in transfer of technologies between the countries. The defence industries of both the countries will work together to form strong economic and industrial cooperation.
UK-India Business Council
The Council is a non-profit organization that fosters trade relations between India and UK. The Council was formed in 1993 as the Indo British Partnership. It is a sister organization of UK-ASEAN Business Council.
The UK-India Business Council Centres are in Gurgaon, New Delhi, Mumbai, Bangalore.
India is the third largest foreign investor of UK. The number of Indian students studying in UK is the second largest in the world after US.
Also, UK is the strong supporter of India in development of future fighter jet engine. India aims at becoming self-reliant in manufacturing combat engines.
Tags: Aerospace • Aerospace Manufacturing • Defence industry • DefExpo India- 2020 • India-UK
The UK India Business Council (UKIBC) announced the establishment of Aerospace and Defence Industry Group to boost bilateral cooperation in the areas. The initiative demonstrates close ties between Indian and United Kingdom’s aerospace and defence industry as well as recognises that UK-India relationship is at a critical turning point.
In 2019, a memorandum of understanding (MoU) was signed between UK and India on ‘Defence Technology Industrial Capability Cooperation’, which highlighted UK government’s approach towards enhancing cooperation with India. The collaboration besides advancing India’s defence acquisition process will also foster long-term hardware and technology transfers.
Aerospace and Defence Industry Group will support and build on huge opportunities for collaboration that exists between defence industries of India and UK. It has been formed after suggestions of Defence and Security Organisation as well as with support of UK Defence Solutions Centre, the Department for International Trade, ADS Group Ltd and industry. The group could contribute towards India’s continued emphasis on defence modernization, Make in India initiative and sophisticated military capabilities, which will be a win-win for both UK and India. Core members of group include: Rolls-Royce, BAE systems, Thales UK, TVS Logistics, MBDA, Leonardo, PEXA, Pattonair and Cranfield University.
Tags: Aerospace and Defence Industry Group • Defence Technology • India-UK • UK India Business Council • UKIBC