 "PM Modi and Emmanuel Macron")
French defence firm Naval Group has welcomed the announcement by India and France regarding the extension of the partnership between the two nations with an objective to explore submarine projects.
The statement of Naval Group comes after India and France hailed the success of the first Scorpene submarine construction programme (P75 - Kalvari) which is a model of 'Make in India' and the sharing of naval expertise between companies in the two countries.
The Memorandum of Understanding (MoU) has been signed between Mazgon Dockyard Ltd and Naval Group for the construction of three additional submarines under the P75 programme.
Naval Group in its press release thanked the Indian and French authorities for the announcement regarding the extension of the partnership and the objective to explore more ambitious projects to develop the Indian fleet and its performance.
French defence firm noted that the decision showcases the Indian Navy's trust in the industrial cooperation that has been established and reaffirmed the success of the transfer of technology achieved under the P27 agreement.
"Naval Group would like to thank the Indian and French authorities for the announcement regarding the extension of the Indo-French partnership and the objective to explore more ambitious projects to develop the Indian fleet and its performance. Mazagon Dock Shipbuilders Limited (MDL) remains our natural partner," Naval Group said in the press release.
More From This Section
It further said, "This decision is a testimony of the Indian Navy's trust in the industrial cooperation we have established, and reaffirms the success of the transfer of technology achieved under the P75 programme for six submarines, which were built entirely in India by MOL."
It stressed that India's 'Make In India' policy has remained at the heart of the P75 programme and other activities that have been developed by Naval Group and its Indian industrial partners to provide the Indian Navy with modern naval defence technologies, according to the press release.
Pierre Eric Pommellet, CEO of Naval Group, in the press release, said, "We welcome the declarations made during the Indian Prime Minister's historic participation to the French National Day, to continue and further strengthen our 15-year submarine building cooperation, which is a major element of the Indo-French strategic partnership developed over the past decades."
Pommellet further stated, "Naval Group and its partners will be fully mobilised to meet the expectations of Mazagon Dock Shipbuilders Limited and the Indian industry to fulfil the needs of the Indian Navy."
During Prime Minister Narendra Modi's visit to France, PM Modi and French President Emmanuel Macron adopted 'Horizon 2047: 25th Anniversary of the India-France Strategic Partnership, Towards A Century of India-France Relations'. The joint statement said, "India and France are ready to explore more ambitious projects to develop the Indian submarine fleet and its performance."
Highlighting the French commitment to the "Make-in-India" initiative, PM Modi and French President Macron commended the defence industrial partnerships rooted in mutual trust, including the contract between Safran Helicopter Engine and HAL for the Transfer of Technology of Forging and Castings for the Shakti Engine.
The joint statement reads, "Other examples of this defence industrial partnership rooted in mutual trust include the contract being concluded between Safran Helicopter Engine and HAL for the Transfer of Technology of Forging and Castings for the Shakti Engine. This is also reflective of the French commitment to support technology transfer and Make in India.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
