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US, India pledge to strengthen defense ties, expand military engagement

Top defense officials from India and the United States pledged Saturday to expand their military engagement, underscoring the strengthening defense ties between two countries concerned over China’s growing influence in the Indo-Pacific region.
US Secretary of Defense Lloyd Austin and Indian Defense Minister Rajnath Singh met in New Delhi and agreed to deepen defense cooperation, intelligence sharing and logistics.
“India is an increasingly important partner in rapidly shifting international dynamics. I reaffirm our commitment to a comprehensive forward-looking defense partnership with India as a central pillar of our approach to the Indo-Pacific region,” Austin said.
Austin is making the first visit to India by a top member of President Joe Biden’s administration. His visit follows a meeting last week between leaders of Australia, India, Japan and the United States, which together make up the four Indo-Pacific nations known as the Quad.
The Quad is seen as a counterweight to China, who critics say is flexing its military muscle in the South China Sea, East China Sea, Taiwan Strait and along its northern border with India.
China has called the Quad an attempt to contain its ambitions.
Austin’s Indian counterpart, Singh, said the talks were focused on “expanding military-to-military engagement.”
“We are determined to realize the full potential of comprehensive global strategic partnership,” Singh said.
Austin arrived in New Delhi on Friday and met Prime Minister Narendra Modi and National Security Advisor Ajit Doval.
According to a statement from the Prime Minister’s Office, Modi “outlined his vision for the strategic partnership between the two countries and emphasized the important role of bilateral defense cooperation in India-US ties.”
Before the talks on Saturday, Austin visited the National War Memorial and was accorded a ceremonial guard of honor.
The timing of Austin’s visit, which follows talks between high-ranking US and Chinese officials in Alaska amid a bitter exchange of words, signals the importance Biden places on New Delhi as a security ally.
The US and India have steadily ramped up their military relationship in recent years and signed a string of defense deals and deepened military cooperation. In 2019, the two sides concluded defense deals worth over $3 billion. Bilateral defense trade increased from near zero in 2008 to $15 billion in 2019.
The US-India security partnership enjoys strong bipartisan support in Washington, and it has grown significantly since the early 2000s even though trade agreements have been a sticking point. But in recent years, relations between the countries have been driven by a convergence of interests to counter China.
More recently, India drew closer to the US following its months-long military standoff with China along their disputed border in eastern Ladakh, where deadly clashes erupted last year. Tensions between the nuclear-armed Asian giants have eased after the two countries pulled back troops from one area of contention.
source: The Associated Press
Image source: Reuters
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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