India to borrow Vietnam $100m for military equipment

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patrol boatsIndia has offered a $ 100-million credit line to Vietnam to purchase military equipment, The Hindu newspaper reported on July 28. Vietnam will use the funds to acquire 4 patrol boats.

The credit line is to be finalised by the time the General Secretary of the Communist Party of Vietnam visits India at the end of 2013.

Vietnam and India have long enjoyed strategic ties including cooperation in the civil nuclear sector, training slots for Vietnamese military officers and frequent exchange of visits of army officials.

The paper said it was a rare occasion that India is offering a defense-related credit line. On another occasion, India has granted Mauritius, whose air force and navy have Indian defense hardware, credit lines to buy Indian patrol boats and helicopters.

However, India wants to expand its defense ties with Vietnam to military hardware. One of the most sought after items on the Vietnamese wish-list is India’s BrahMos missile, jointly produced with Russia.

India is currently beefing up security ties with all countries beyond its eastern flank as one of the strategies of its ‘Looking East’ policy. The Indian Navy also conducts coordinated patrols with Thailand and holds joint exercises with Singapore and Japan.

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Reading Time: 1 minute

India has offered a $ 100-million credit line to Vietnam to purchase military equipment, The Hindu newspaper reported on July 28. Vietnam will use the funds to acquire 4 patrol boats.

Reading Time: 1 minute

patrol boatsIndia has offered a $ 100-million credit line to Vietnam to purchase military equipment, The Hindu newspaper reported on July 28. Vietnam will use the funds to acquire 4 patrol boats.

The credit line is to be finalised by the time the General Secretary of the Communist Party of Vietnam visits India at the end of 2013.

Vietnam and India have long enjoyed strategic ties including cooperation in the civil nuclear sector, training slots for Vietnamese military officers and frequent exchange of visits of army officials.

The paper said it was a rare occasion that India is offering a defense-related credit line. On another occasion, India has granted Mauritius, whose air force and navy have Indian defense hardware, credit lines to buy Indian patrol boats and helicopters.

However, India wants to expand its defense ties with Vietnam to military hardware. One of the most sought after items on the Vietnamese wish-list is India’s BrahMos missile, jointly produced with Russia.

India is currently beefing up security ties with all countries beyond its eastern flank as one of the strategies of its ‘Looking East’ policy. The Indian Navy also conducts coordinated patrols with Thailand and holds joint exercises with Singapore and Japan.

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