The MoU on co-operation in the field of Production, Procurement, Research and Development of Defence related Equipment and Industrial cooperation has been inked on the sidelines of Raisina Dialogue 2020.
According to Indian Ministry of Defence, under the broad ambit of the MoU, cooperation between Finnish companies and Indian Defence Public sector Undertakings could be explored.
A draft MoU between the two countries in the field of defence cooperation amongst others was under discussion since the DefExpo 2018 and has now been formalized.
In April 17, 2018, Prime Minister Modi held a bilateral meeting with Mr Sipila during the first India-Nordic Summit in Stockholm, Sweden.
Also, a delegation from Finland had visited India between November 29 – December 02, 2018 to explore new business opportunities for Finnish companies.