Business Daily from THE HINDU group of publications
Sunday, Feb 17, 2008
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Business Daily from THE HINDU group of publications Sunday, Feb 17, 2008 ePaper | Mobile/PDA Version |
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Security Government - Security Global arms firms find India attractive Our Bureau
New Delhi, Feb. 16 India is attracting the attention of the global armament industry. From the Israeli manufacturer of assault rifles to EADS, the European conglomerate having interests in aerospace, defence and related services, the Russian defence industry and many more like them are keen not only to sell their equipment but also seek strategic partners here. “India has been designated as a strategic market. There is significant and growing business,” said Mr Guy Douglas, Head of Communications, India, BAE Systems. The President, Raytheon Asia, Admiral Walter F. Doran, added that the company was seriously looking at India, and was keen to pre-select and pre-qualify companies who can take up international work being done by the company. Lockheed Martin has opened an India subsidiary to pursue business opportunities. The Vice-President, Marketing and Business Development, Israel Weapons Industries, Mr Mark Shachar, said that the company was ready to transfer the technology for the arms it produced if it won a contract here. For the first time, the Russian arms industry is displaying Pantsir S-1, which is a short range air defence missile and gun, apart from Shmel–M — an upgraded version of an infantry rocket launcher — at the defence fair here. But, why the interest in the Indian defence market? India has the third largest defence procurement budget in Asia, which Boeing estimates could bring business of $10-15 billion over the next 10 years. Defence imports to touch $30 b by 2012: Assocham Raytheon, L&T tie up for combat aircraft programme `We've to procure defence equipment worth $8-10 b' More Stories on : Security | Security
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