NEW DELHI: Defence Minister Rajnath Singh handed over 12 high-speed guard boats to Vietnam on Thursday, as part of a USD 100 million line of credit offered by India to the Southeast Asian country.

Singh presented the boats at a ceremony in the Hong Ha shipyard as part of the growing maritime security cooperation between the two countries in response to Beijing's growing military assertiveness in the South China Sea. From June 8 to 10, the defence minister will be in Vietnam for three days.

"It gives me great pleasure to participate in this historic ceremony commemorating the successful completion of the project to build 12 high-speed guard boats under India's USD 100 million defence Line of Credit," he remarked at the event.  

The first five boats were built at the L&T Shipyard in India, and the final seven at the Hong Ha Shipyard in Vietnam. "I am convinced that this will pave the way for many more India-Vietnam cooperation defence initiatives," Singh added. "This project exemplifies our 'Make in India or Make for the World' mission," he said. India would be "greatly pleased,"  if "close friends like Vietnam" join the country's defence industrial transition.

Singh claimed that under Prime Minister Narendra Modi's 'Aatmanirbhar Bharat' (self-reliant India) strategy, the Indian defence sector has significantly strengthened its capabilities. He emphasised that the goal is to develop a domestic industry that will enable India to become a defence manufacturing hub that will meet both domestic and international needs.

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