India and the United States constitute a formidable force that can ensure peace, prosperity, and stability in the world, Defence Minister Rajnath Singh said while interacting with the Indian diaspora in Washington after arriving in the US on Thursday on a four-day visit.

He described India and the US as natural allies, destined to be strong partners.

Mr Singh asserted that under the leadership of Prime Minister Narendra Modi, India’s stature has grown on the global stage. “Earlier, India’s words at international fora were not heeded; but today, the whole world listens to us carefully,” he said.

He noted that before 2014, India was among the ‘Fragile Five’ nations, as coined by investment firm Morgan Stanley, and today it finds itself among the ‘Fabulous Five’ economies of the world. He cited the firm’s recent report, which says that India will become the third-largest economy by 2027. He stressed that the government’s response to the COVID-19 pandemic ensured that the Indian economy was not adversely impacted as compared to other countries.

The defence minister highlighted that the government has successfully brought 25 crore people above the poverty line. He added that as per latest data, retail inflation fell to a five-year low of 3.54% and foreign exchange reserves have reached an all-time high of $675 billion.

He enumerated the steps taken by the government to achieve ‘Aatmanirbharta’ in defence, including the notification of Positive Indigenisation Lists comprising over 5,000 items. He emphasised that consistent efforts are being made to ensure that state-of-the-art defence items are manufactured on Indian soil by domestic companies.

Mr Singh said the defence exports, which were to the tune of Rs 600 crore before the current government came to power, have now risen significantly to over Rs 21,000 crore. He added that due to the measures taken to promote innovation, the number of start-ups in the country rapidly increased to 1.20 lakh from around 400 in 2014. He credited these achievements to the willpower along with the policies & planning of the government. “We want to develop India into a strong, secure and prosperous nation,” he said.

He urged the Indian community in the US to work with honesty and dedication, in line with the spirit of ‘Vasudhaiva Kutumbakam’ (The World is One Family).

Coinciding with Mr Singh’s arrival, senior defence officials from the two sides signed two major agreements – Security of Supplies Arrangement (SOSA) and Memorandum of Agreement regarding the Assignment of Liaison Officers.

During his US visit, the Indian minister will hold a bilateral meeting with US Secretary of Defence Lloyd Austin. He will also meet US Assistant to the President for National Security Affairs Jake Sullivan. In addition, he will chair a high-level round-table meeting with the US defence industry on the ongoing and future defence collaborations.