India and Belarus have signed cooperation agreement on joint development and manufacture of military equipment during President of Belarus Alexander Lukashenko’s visit to New Delhi Wednesday.
"We will encourage joint development and manufacturing in defense sector under the Make in India program. We have also progressed our discussion on utilizing the US$ 100 million line of credit that India had offered in 2015 to specific projects in Belarus," India’s Prime Minister Narendra Modi said after the signing of 10 Memorandum of Understanding with Belarus in New Delhi.
The pacts on enhancing bilateral cooperation in a variety of areas, including oil and gas, agriculture, science and technology, education and sports, were also signed during the visit.
Inviting Indian investors to Belarus, Lukashenko said his government was ready to provide them with the most favourable and ideal conditions for doing business.
Meanwhile, the two countries are also exploring the possibility the setting up of a technology demonstration center in India to showcase Belarusian technology. India is linked with Belarus under multi-lateral economic initiatives such as the Eurasian Economic Union (EEU) and the International North South Transport Corridor. India is negotiating a Free Trade Agreement with the EEU.