India has shown an interest in developing cooperative ties
with Ukraine in the military-industrial sector. If cooperation
with Ukraine can be brought about in this area then priority
would be given to the modernization of Indian Navy's fleet
of An-32 airplanes and extending to extending their service
lives. It has been stressed that there is a huge potential
for cooperation between India and Ukraine in the defence industry
and this potential can further be broadened. India is also
interested in Ukrainian cooperation to develop armored equipment.
Industrial cooperation in the Information Technology sector
has also been forged. Aptech Ltd from Mumbai signed an agreement
with International Institute of Personnel Management, one
of the biggest IT Training Centers, to organize programs and
train individuals in information Technology in schools and
institutions in Ukraine.
Another area of industrial cooperation between the two countries
is the Biotechnology sector. Companies such as Biocon, Genome
etc. have already taken up this initiative and forged ties
with their counterparts in Ukraine.
Further industrial cooperation can be pursued in the pharmaceutical,
packaging of finished products, iron and steel sector and
in the machine building industry. This would help in closer
cooperation of not just the big industries of the two countries,
but also among the small and medium businesses of both countries.