Hyderabad: US aerospace and defence major Lockheed Martin expects India to be next major defence and aerospace hub with several major deals set to be finalised with the Government and between Governments.
The diversified company, which already has presence in India for more than 25 years, and now with a manufacturing/assembly facility, in partnership with Tata Advanced Systems Ltd, in Hyderabad, is closely watching the progress of major defence deals, which could trigger development of the local industry and manufacturing.
After the commissioning of a new facility in partnership with TASL at the aerospace park in Adibatla near Hyderabad international airport, senior executives of Lockheed Martin explained how aerospace and defence in India could be next major opportunity and have potential to become big like the automotive sector over the past few decades.
Phil Shaw, Chief Executive, Lockheed Martin India, Abhay Paranjape, Chief Operating Officer of Tata Lockheed Martin Aerospace Ltd, and John R Losinger, Integrated Fighter Group Communications, explained how the corporation was keenly watching the progress of some of the large defence procurement deals, which could trigger big local development.
Paranjape said Lockheed Martin had initiated a process for Indian manufacturing about 7-8 years ago even before the Government initiated the defence offset policy. Significantly, the manufacturing facilities that get created in India have the potential to not only serve the Indian requirements but also play a role as a regional hub.
25/04/18 V Rishi Kumar/Business Line
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The diversified company, which already has presence in India for more than 25 years, and now with a manufacturing/assembly facility, in partnership with Tata Advanced Systems Ltd, in Hyderabad, is closely watching the progress of major defence deals, which could trigger development of the local industry and manufacturing.
After the commissioning of a new facility in partnership with TASL at the aerospace park in Adibatla near Hyderabad international airport, senior executives of Lockheed Martin explained how aerospace and defence in India could be next major opportunity and have potential to become big like the automotive sector over the past few decades.
Phil Shaw, Chief Executive, Lockheed Martin India, Abhay Paranjape, Chief Operating Officer of Tata Lockheed Martin Aerospace Ltd, and John R Losinger, Integrated Fighter Group Communications, explained how the corporation was keenly watching the progress of some of the large defence procurement deals, which could trigger big local development.
Paranjape said Lockheed Martin had initiated a process for Indian manufacturing about 7-8 years ago even before the Government initiated the defence offset policy. Significantly, the manufacturing facilities that get created in India have the potential to not only serve the Indian requirements but also play a role as a regional hub.
25/04/18 V Rishi Kumar/Business Line
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