Lockheed Martin sees its potential in Indian defence

Friday, 09 February 2007, 18:30 IST
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Bangalore: Lockheed Martin, US defence and aerospace major sees a $10-billion potential for itself in India's defence space and is awaiting signals from the government to sell a wide range of products. Officials from the Bethesda, Maryland-based Company said that discussions were on with the Indian government for an array of products - from helicopters and multi-role combat aircraft to missiles and cockpit simulators. "Considering India's annual defence purchase budget of some $8 billion and its intended programme in this area over the next five-seven years, we see a $10 billion market for ourselves," said Lockheed Vice President Orville Prins. One of the primary areas that Lockheed Martin is concentrating for the bids the Indian government is expected to call for to buy as may as 126 multi-role combat aircraft. Lockheed's F16 is among six global aerospace firms in the fray for the multi-billion dollar procurement project. "Our bid will incorporate the requirements of the Indian Air Force," said Prins, also the head for F16 programme for India. Lockheed officials also expect India to finalise another defence deal to buy 16 C-130J Hercules transport aircraft by December this year. The government may opt for buying another six at a later date. "I hope it happens this year. But strictly, it is between the Indian Air Force and the United States Air Force. We are facilitators," Prins said, explaining his company's role in facilitating the deal. The senior Lockheed executive also spoke about India's offsets programme under which 30 percent of all deals valued at over 3 billion ($68 million) have to be reinvested back in the country. "It is restrictive but we would like India to establish a system to bank offset credits," Prins said, adding it would encourage overseas companies to partner with their Indian counterparts. He said Lockheed was looking at various models to invest in India such as direct investment and joint ventures. The US company has some 300 such ventures across the globe. Speaking about other products offered to India, Lockheed officials said the Indian Navy was also evaluating its proposal for selling P3-C Orion for anti-submarine and surveillance. Apart from the F16 and C-130J Hercules, the group has also displayed its PAC-3 Patriot ballistic missile. The MH-60R multi-role helicopter, a multi-mission machine based on SH-60B and SH-60F Seahawks.
Source: IANS