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V.Balasubramani
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Airbus to build military choppers in India with Mahindra
NEW DELHI: Europe's Airbus Group and India's Mahindra Group have struck a deal to build helicopters jointly as they bid to win an expected wave of orders from the country's armed forces, the companies said in a statement on Friday.
The two groups will form a joint venture in the coming months, aiming to become the first private manufacturer of helicopters in India, the statement said. It did not say how much the two will invest.
India is in the midst of a huge upgrade of its armed forces — analysts forecast it will spend $250 billion over the next decade — and Prime Minister Narendra Modi wants to encourage more indigenous manufacturing to end India's position as the world's largest arms importer.
Read more at: http://timesofindia.indiatimes.com/...-India-with-Mahindra/articleshow/47924204.cms
NEW DELHI: Europe's Airbus Group and India's Mahindra Group have struck a deal to build helicopters jointly as they bid to win an expected wave of orders from the country's armed forces, the companies said in a statement on Friday.
The two groups will form a joint venture in the coming months, aiming to become the first private manufacturer of helicopters in India, the statement said. It did not say how much the two will invest.
India is in the midst of a huge upgrade of its armed forces — analysts forecast it will spend $250 billion over the next decade — and Prime Minister Narendra Modi wants to encourage more indigenous manufacturing to end India's position as the world's largest arms importer.
Read more at: http://timesofindia.indiatimes.com/...-India-with-Mahindra/articleshow/47924204.cms
