The Joint Declaration outlines the intent of the two countries to jointly develop and produce defence equipment which will involve transfer of technology from the US.
India has been having such cooperation with Russia so far.
The Prime Minister said the new decision in the field of defence is “in line with our own thinking” that India's domestic industry should be involved in research and production in a big way.
He said the government would also like FDI to the extent of 26 per cent to come into defence production.
On the issue of civil nuclear deal, Singh noted that the early works agreement has already been signed between Nuclear Power Corporation of India Limited (NPCIL) and American firm Westinghouse.
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