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Thirty firms from the United States will exhibit at Indiaââ¬â¢s annual aerospace and defense exhibition next year, the first time American companies have taken part in the fair, an official said Dec. 20.
ââ¬ÅAmerica has never participated earlier. They were not willing to sell defense items. But we have now a new relationship,ââ¬Â Indian defense ministry secretary K.P. Singh told reporters.
ââ¬ÅIt shows the great confidence of American companies in India,ââ¬Â he said.
ââ¬ÅIt is a direct consequence of the nuclear agreement,ââ¬Â he added, referring to a landmark bill for Washington to transfer nuclear fuel and technology to India, which was signed into law by U.S. President George W. Bush on Dec. 18.
The aerospace and defense exhibition will take place in the southern city of Bangalore from February 7-11, 2007. The U.S. firms set to take part include Boeing, Lockheed Martin and Northrop Grumman.
India is the largest arms purchaser among emerging nations and said last month that it will not prune defense spending because of the growing threat from terrorism and ongoing regional tensions.
India annually spends $14 billion, or 2.34 percent of its gross domestic product, on its military. Since 2004 it has either spent or committed billions of dollars in modernization projects planned until 2010.
The country is also expected to launch a tender for 126 warplanes, a contract estimated to be worth between $6.5 billion and $9 billion.
ââ¬ÅAmerica has never participated earlier. They were not willing to sell defense items. But we have now a new relationship,ââ¬Â Indian defense ministry secretary K.P. Singh told reporters.
ââ¬ÅIt shows the great confidence of American companies in India,ââ¬Â he said.
ââ¬ÅIt is a direct consequence of the nuclear agreement,ââ¬Â he added, referring to a landmark bill for Washington to transfer nuclear fuel and technology to India, which was signed into law by U.S. President George W. Bush on Dec. 18.
The aerospace and defense exhibition will take place in the southern city of Bangalore from February 7-11, 2007. The U.S. firms set to take part include Boeing, Lockheed Martin and Northrop Grumman.
India is the largest arms purchaser among emerging nations and said last month that it will not prune defense spending because of the growing threat from terrorism and ongoing regional tensions.
India annually spends $14 billion, or 2.34 percent of its gross domestic product, on its military. Since 2004 it has either spent or committed billions of dollars in modernization projects planned until 2010.
The country is also expected to launch a tender for 126 warplanes, a contract estimated to be worth between $6.5 billion and $9 billion.