Rajnath Singh highlights reforms to facilitate business in India’s defence sector
Defence Minister Rajnath Singh, who is on an official visit to Italy, continued to explore ways to fortify defence ties with the European nation by engaging with the top brass of the Italian defence industry on October 10, 2023.
 
During this meet, Singh recollected the constructive discussion he had with Italian Defence Minister Guido Crosetto and the consequent defence accord. Emphasizing the synergy, he highlighted the reforms India has undergone to facilitate business, notably in the defence sector, mentioning the liberalized FDI norms and the establishment of two Defence Industrial Corridors.
 
Singh articulated, "India presents a promising landscape for co-development and co-production. The melding of the Italian and Indian defence industries can carve out a win-win scenario." Encouraging deeper integration, he urged the Italian tycoons to foster robust supply chain connections with Indian defence manufacturers and to augment their association with the Society of Indian Defence Manufacturers.
 
The roundtable witnessed an impressive turnout with top executives from 24 major Italian defence establishments, including Leonardo, Fincantieri, Elettronica, Beretta, and AIAD. Such a synchronized representation from Italy underlines the weight the European nation places on its defence relations with India. Italian Under Secretary of Defence Matteo Perego di Cremnago was also in attendance, along with dignitaries from the Italian Ministry of Defence.
 
Responding to proposals by the Italian CEOs, Singh reassured them of the Indian government's unwavering support in enhancing defence industry cooperation.
 
Further enriching the tour's significance, Singh, escorted by Cremnago and Indian Ambassador to Italy Neena Malhotra, later journeyed to Montone in Perugia Province. There, he paid homage at a newly-erected memorial honoring Naik Yeshwant Ghadge and the brave Indian soldiers who participated in the Italian Campaign during World War II. His visit resonated deeply, as it illuminated the shared history between the two nations.
 
The official Twitter handle @IndiainItaly documented Singh's visit, stating, "Raksha Mantri honours the memory of Indian soldiers at the Montone memorial. He also interacted with the vibrant Indian community members."
 
The bilateral meetings, further defined by the in-depth discussions on defence and maritime security, set the stage for potential collaboration in R&D, military education, and joint ventures. The strengthened bond between the two nations, through these strategic deliberations and agreements, is poised to significantly shape the defence landscapes of both India and Italy in the coming years.