"India and US a formidable force," says Defence Minister Rajnath Singh as his four day US visit gets underway

Washington DC [US], August 23 (ANI): Defence Minister Rajnath Singh has arrived in the US capital on a four day visit to the country. On Friday the Raksha Mantri will start day 2 of his visit.
On the first day of his visit the Department of Defence (DoD) and the Ministry of Defence of the Government of India entered into a bilateral, non-binding Security of Supply Arrangement (SOSA). The SOSA was signed by Vic Ramdass, Principal Deputy Assistant Secretary of Defence for Industrial Base Policy, on behalf of the United States, and Samir Kumar Sinha, Additional Secretary and Director General (Acquisitions), on behalf of the IN MoD.
Through this SOSA, the United States and India agree to provide reciprocal priority support for goods and services that promote national defense. The Arrangement will enable both countries to acquire the industrial resources they need from one another to resolve unanticipated supply chain disruptions to meet national security needs.
Meanwhile, while interacting with the Indian diaspora on Thursday (local time) the Raksha Mantri said that India and US, together, are a formidable force which can ensure peace, prosperity and stability in the world.
The Raksha Mantri described India and US as natural allies, which are destined to be strong partners, and this collaboration is growing continuously.
Rajnath Singh re-asserted the fact that under the dynamic leadership of Prime Minister Shri Narendra Modi, India's stature has grown on the global stage. "Earlier, India's words at international fora were not heeded; but today, the whole world listens carefully," he said.
The Raksha Mantri pointed out that before 2014, India was among the 'Fragile Five' nations, as coined by investment firm Morgan Stanley, and today it finds itself among the 'Fabulous Five' economies of the world. He cited the firm's recent report, which says that India will become the third largest economy by 2027. He stressed that the Government's response to the COVID-19 pandemic ensured that the Indian economy was not adversly impacted as compared to other countries.
Rajnath Singh highlighted the fact that the government has successfully brought 25 crore people above poverty line. He added that as per latest data, retail inflation fell to a five-year low of 3.54% and foreign exchange reserves have reached an all-time high of USD 675 billion.
The Raksha Mantri enumerated the steps taken by the Government to achieve 'Aatmanirbharta' in defence, including the notification of Positive Indigenisation Lists comprising over 5,000 items. He emphasised that the consistent efforts are being made to ensure that state-of-the-art defence items are manufactured on Indian soil by domestic companies.
Rajnath Singh acknowledged the fact that the defence exports, which were Rs 600 crore before the current government came to power, have now risen significantly to over Rs 21,000 crore. He added that due to the measures taken to promote innovation, the number of start-ups in the country rapidly increased to 1.20 lakh from around 400 in 2014. He credited these achievements to the willpower along with the policies & planning of the Government. Voicing the Prime Minister's vision, he said: "We want to develop India into a strong, secure and prosperous nation".
The Raksha Mantri concluded the address by urging the Indian community in the US to work with honesty and dedication, in line with the spirit of 'Vasudhaiva Kutumbakam' (The World is One Family).
During his US visit, the Defence Minister will hold a bilateral meeting with US Secretary of Defence Lloyd Austin. He will also meet the US Assistant to the President for National Security Affairs Jake Sullivan.
In addition, he will chair a high-level round-table meeting with the US defence industry on the ongoing and future defence collaborations. The visit is expected to further deepen and broaden the India-US Comprehensive Global Strategic Partnership. (ANI)