German firm TKMS (ThyssenKrupp Marine Systems) signed a Memorandum of Understanding (MoU) with Hyderabad-based VEM Technologies, a renowned Indian defence company, specialising in design, development and manufacturing of weapon systems and fuselage and systems for airborne systems.
The rebranding of the TKMS locations will take place in stages: initially at the main locations in Kiel and Bremen, then at the other facilities in Germany and abroad.
In an interview over email, the German envoy said that New Delhi was at the forefront of Berlin's business strategy in Asia where it was strongly diversifying its business relations due to the "increasingly challenging behaviour of India's big neighbour in the North East" and other reason