Ship repair pact with US to boost domestic jobs market: Finance minister Nirmala

NEW DELHI: Finance minister Nirmala Sitharaman on Sunday said that the India-US agreement on repair of ships could see American vessels roll into Mazagon docks and Goa Shipyards, along with L&T’s facility in Kattupalli, while arguing that domestic manufacturing and jobs will get a boost following a series of partnerships and investments that were announced during PM Narendra Modi’s visit to the US.

The FM said that the US Navy has concluded a Master Ship Repair Agreement (MSRA) and is finalising two more agreements to allow mid-voyage ships to undergo service and repair at Indian shipyards. Sitharaman said that GE-HAL tie-up for aircraft engines will help boost domestic production and also be beneficial to the Indian public sector company. “These engines will be used for Tejas aircraft of HAL, a company about which Indian opposition often sheds crocodile tears,” she said, referring to Congress's allegation that the NDA government had conspired to shut down the public sector aircraft manufacturer.

The minister also said rapid investments in semiconductor and other technologies is benefitting the people as they are getting training in multiple domains and employment is being created. “As per Nassom, if 100 Global Centres are being established globally for data protection & related matters, 50 are already close to completion in India. The remaining 50 too have majorly Indians working in them. It's a testament to our increasing leadership in this sphere,” she said.