Swedish defence company Saab has inked a strategic agreement with Piramal Systems and Technologies in the land electronic defence system.

The Land Electronic Defence System (LEDS) is designed to provide the military with situational awareness of laser emissions associated with anti-armour threats and allow a rapid countermeasure response. The Swedish company has teamed up with the Piramal Group to explore opportunities on the LEDS programme in India.

“The new partnership is to become a base for cooperation in a number of different business. Together with Piramal, we will work out product definition and way to market,” said Lars-Olof Lindgren, Chairman, Saab India Technologies.

On other Indian partnerships, Lindgren told Business Line , the company has a long relation with the Mahindra Group, the Ordnance Factory Board, FFV Services and Bharat Electronics, and is keen to expand all these further.

“Our strategic play in India is fundamentally based on two premises: one, we see India as a home market and, second, for all major future programmes, we will collaborate with an Indian company either through a teaming agreement or through a joint venture,” he said..

The Swedish company is keen to strengthen its presence in India through strategic investments. Pipavav Defence’s recent sale of its 24.5 million shares to Saab, representing 3.4 per cent of the company’s existing share capital, is just the start, maintains the Chairman.

Saab’s recent investment in the Indian naval sector company Pipavav Defence and Offshore Engineering, which makes submarines and warships, is to help the Swedish company expand. Saab obtained Pipavav’s shares for $37.6 million on May 27.

amritanair.ghaswalla@thehindu.co.in

comment COMMENT NOW