Why in News:

• As part of efforts for co-production and co-development of defence equipment under the Defence Technology and Trade Initiative (DTTI), India and the U.S. agreed on a revised Statement of Intent (SOI) to strengthen dialogue on defence technology cooperation.

What is DTTI?

• The main aim of the DTTI is to bring sustained leadership focus to promote collaborative technology exchange and create opportunities for co-production and co-development of future technologies for Indian and U.S. military forces. 
• Under the DTTI, Joint Working Groups on land, naval, air, and aircraft carrier technologies have been established to focus on mutually agreed projects in respective domains.
• DTTI came about to expedite the scope of cooperation on defence technology that became narrow due to the presence of differing bureaucratic processes and legal requirements.
• DTTI is an initiative to provide increased US senior level oversight and engagement to get beyond these obstacles.
• While DTTI is not a treaty or law, it is a flexible mechanism to make sure that senior leaders from both countries are engaged consistently to strengthen the opportunities in the field of defence. 
• Its central aims include strengthening India’s defence industrial base, exploring new areas of technological development and expanding U.S.-India business ties.

Reference:

1. https://www.thehindu.com/news/national/india-us-hold-11th-defence-technology-and-trade-initiative-group-meeting/article37412505.ece