The Society of Indian Defence Manufacturers (SIDM) and the Groupement des Industries Françaises Aeronautiques et Spatiales (GIFAS) signed a memorandum of understanding on the sidelines of a major industrial mission in India in the field of aerospace and defence organised by GIFAS with the support of SIDM from the April 16 to 19, 2018.
This agreement aims to promote a sustainable framework for present and future partnerships and cooperative actions between the French aerospace industry and the Indian defence industry by reaffirming the necessity to expand trade, through stronger economic and industrial cooperation, between France and India, and towards export customers.
"The signing of this MoU between our two bodies is an excellent opportunity to develop the cooperation between France and India and shape the aerospace and defense industry of the future," stated Pierre Bourlot, managing director of GIFAS and Lt Gen Subrata Saha, director general of SIDM, when they signed the document.
This MoU will allow the implementation of measures to promote a mutually beneficial cooperation in aerospace and defence manufacturing, research and technology, human capital, engineering services, systems integration.
The cooperation will focus on five axes of common interest that are:
- The development of business opportunities between members of GIFAS and SIDM
- Training and human capital development
- Research and technology
- Aerospace Industry Policy and Business Environment
- International Trade Issues.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)