Home ECONOMY French aerospace major Thales targets Indian market for growth

French aerospace major Thales targets Indian market for growth

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Kolkata, Jan 4:

With opportunities opening up once again in the defence sector, French aerospace major Thales is considering joint ventures (JVs) with over 50 Indian companies to enhance its industrial footprint.

(Pic courtesy: www.t halesgroup.com)
(Pic courtesy: www.t halesgroup.com)

“We are planning to expand locally in India through our own wholly owned subsidiary Thales India Private Limited (TIPL), JVs and all the partnerships with the local industry that can be envisaged”, TIPL vice president and country director Antoine Caput told IANS.

He said the company is looking to enhance its industrial footprint and develop talent in the sector to initiate innovation which will further its growth strategy.

“We have identified over 50 offset partners in India. Some of those we are currently working with, for various projects, include HAL and BEL among others”, he said.

The defence equipment maker said it will closely follow the requirements of the Indian armed forces and participate in all relevant opportunities that will come up.

“Some of these projects are in the area of combat aircraft; ground-based air defence systems; ground, ship and airborne sensors; tactical communication and avionics”, Caput said.

The company is also eyeing deals in the civil aerospace, security and transportation domain.

In late August last year, the company entered into a JV with Bharat Electronics Ltd (BEL) where it holds 26 percent equity. (IANS)