What is the significance of the ship repair agreement between Cochin Shipyard and the U.S. Navy

1. Strategic Partnership: The agreement strengthens the strategic partnership between India and the U.S. by involving Cochin Shipyard in repairing U.S. Navy vessels. 2. Technical Expertise: Cochin Shipyard's expertise in ship repair and maintenance will enhance the operational readiness of the U.S. Navy fleet. 3. Economic Benefits: The agreement opens up new revenue streams for Cochin Shipyard and boosts its standing in the global ship repair market. 4. Skill Development: Collaboration with the U.S. Navy will facilitate knowledge transfer and skill development for Cochin Shipyard workers. 5. Global Recognition: Establishing ties with the U.S. Navy enhances Cochin Shipyard's global reputation as a reliable and capable ship repair provider.