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Pact to open door for U.S. defence firms
Why is it in news?
- The Industrial Security Annex (ISA), signed between India and the U.S. at the second 2+2 dialogue in Washington, will open the door for U.S. defence companies to partner with the Indian private sector for several multi-billion dollar deals in the pipeline, especially the deal for 114 fighter jets.
More in news
- Operationalization of COMCASA: The two sides also took stock of the steps being taken to operationalise the foundational agreement, the Communications Compatibility and Security Agreement (COMCASA).
- More about the Industrial Security Annex (ISA)
(1) The ISA is a part of the General Security Of Military Information Agreement (GSOMIA), which India signed with the U.S. long back.
(2) Significance: It became critical as India opened up the defence sector to the private sector and the Strategic Partnership policy, which has few big military platforms and is reserved for the Indian private sector.
(3) U.S. companies are in the race for multi-billion dollar deal for 114 fighter jets, among other deals.
Source
The Hindu