The official inking of the agreement is expected to be done within 2 months. This agreement will unlock the key defense technology sharing between the two countries.
According to the reports, The Industrial Security Annex will allow the transfer of high-end technology pieces that are regulated by US law. This will also enable the floundering India US Defense Technology and Trade Initiative of 2012. This agreement was quite silent since no major projects in line.
Several companies are already in working on defense products partnering with India. The Indian government will be involved in the safety and security matters of data transfer dealing with unhealthy and illegal third parties.
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The US companies will submit the documents to the US government and further will be sent to their Indian partners through diplomatic channels. The transfer of the technology is solely is done through the government route.
The technology piece will then be sent to the Indian industries. This is to ensure the safeguard mechanism.
The Industrial Security Annex will play a key role in the forthcoming Make in India projects like the 110 fighter jet deal and 111 Naval Utility Helicopters which are being processed under the Strategic Partnership model.
The new Industrial Security Annex will require cabinet-level clearance. India and the US are taking the steps to carry the strategic partnership for further development.