BUSINESS NEWS

Ukraine seeks higher Indian market profile with new representative office

Ukraine is looking to deepen its strategic partnership with India in the defense and transport sectors

The Business Week/UkraineInvest
Saturday, 17 November 2018 13:08

Ukraine’s state-owned defence sector company Spetstechnoexport has opened a second representative office in India as Ukraine looks to build on recent gains in South Asia’s largest defence market. The new office will seek to participate in tenders and offer operational support for Indian partners, with focuses including the implementation of new contracts signed in 2018 with Hindustan Aeronautics Limited (HAL) and Bharat Electronics Limited (BEL).

During 2018, Spetstechnoexport almost tripled the volume of defence sector supplies to HAL. Meanwhile, during the DefExpo 2018 international trade air in India earlier this year, the Ukrainian state-owned defence company signed new contracts in the aviation sector worth approximately USD 20 million.

Ties between India and Ukraine are currently strengthening in a range of directions. India is on track to maintain its position in 2018 as the largest market for Ukrainian agricultural exports, accounting for more than 10% of global totals.

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