Receives Transfer of Technology Agreement from Ministry of Defence for Hydro Suit (Submarine Escape Suit) for Indian Navy
The company has received a Transfer of Technology (ToT) certificate from the Ministry of Defence to manufacture the Hydro Suit (Submarine Escape Suit) for the Indian Navy.
By ScoutQuest · · 1 min read
- Transfer of Technology
- Hydro Suit (Submarine Escape Suit) for Indian Navy
- Awarding Authority
- Ministry of Defence
- Ceremony Handover
- ToT agreement handed over by Defence Minister Shri Rajnath Singh
What was announced
The company informed the exchange that it has received a Transfer of Technology (ToT) certificate from the Ministry of Defence for manufacturing the Hydro Suit (Submarine Escape Suit) for the Indian Navy.
How it came about
- The ToT agreement was formally handed over to the company by the Hon'ble Defence Minister, Shri Rajnath Singh, during a ToT handing-over ceremony.
- The company will undertake manufacturing of the Hydro Suit in line with the terms and requirements specified under the ToT arrangement.
What a ToT means
A Transfer of Technology arrangement allows a private manufacturer to make a defence product using technology developed by or for the defence establishment, under specified terms. It permits manufacturing; it is by itself a technology grant rather than a purchase order.
How investors may read it
The company describes the development as an important step towards its participation in the defence manufacturing sector and in supporting indigenous manufacturing requirements of the Indian Navy. This is a qualitative announcement about capability and market access.
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