India to be big beneficiary of US’s new defence export rules | world | Hindustan Times
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India to be big beneficiary of US’s new defence export rules

world Updated: Jun 30, 2012 01:08 IST

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The US has identified India as one of the countries that would benefit from Pentagon’s ambitious plan to reform rules and regulations that govern its defence exports.

“Defence trade is a promising avenue for deepening security cooperation with our most capable partner nations.

“Our ongoing work in reforming our export control system is a critical part of fostering that cooperation,” US defence secretary Leon Panetta said.

He said each transaction creates new opportunities for training, exercises and relationship building. He pointed out that it also supports the industrial base, with roughly one third of defence industry output supported by defence exports. “This is important for American jobs and for our ability to invest in new defence capabilities for the future.”

“India is one such country that would benefit from changes to our system. While in Delhi earlier this month, I announced that my deputy, Ash Carter, will work with Indian counterparts to streamline our respective bureaucratic processes to better enable defence trade,” Panetta said on Thursday in his address to the US Institute of Peace.