L&T smiles with $680m orders from forces
While offering defence products to India, Boeing’s business strategy aims to transform product sales into a springboard for private and public industrial partnerships.
By TNN |
BANGALORE: Larsen & Toubro (L&T) has orders worth $680 million from the Indian defence forces, which are to be completed over a five years. ���We have to prove ourselves in India first before we can go elsewhere,��� L&T���s Chairman A M Naik said at a meeting with newspersons on the sidelines of Aero India 2007, where companies such as EADS and Boeing Co are competing to grab a slice of India���s defence spendings. L&T also announced that it has entered into a MoU with US aircraft maker Boeing, to jointly explore business opportunities in India���s defence sector.
The agreement highlights Boeing���s efforts to expand and strengthen relationships with India���s institutions and its fast-developing technology and industrial sectors. ���The MOU with Boeing adds an international dimension to our engagements in the strategic sectors of defence and aerospace,��� said M V Kotwal, senior executive vice-president of L&T. ���As a major supplier of critical systems to India���s defence sector for over four decades, we have worked closely with the defence establishment in developing and putting into production a range of advanced systems. This new MoU will add depth to our capabilities in the aerospace and defence sectors,��� Mr Naik added.
While offering defence products to India, Boeing���s business strategy aims to transform product sales into a springboard for
private and public industrial partnerships. The company already has held talks with public and private sector companies in such fields as advanced materials, electronics, engineering and airframe structures. In November 2006, some 50 Indian companies attended the Boeing-GE Supplier Conference in Bangalore, an important milestone to expand the field of current and potential Boeing suppliers within the Indian marketplace. Boeing estimates the Indian defence market to be worth around $ 10 billion to $ 15 billion in the next decade.
The agreement highlights Boeing���s efforts to expand and strengthen relationships with India���s institutions and its fast-developing technology and industrial sectors. ���The MOU with Boeing adds an international dimension to our engagements in the strategic sectors of defence and aerospace,��� said M V Kotwal, senior executive vice-president of L&T. ���As a major supplier of critical systems to India���s defence sector for over four decades, we have worked closely with the defence establishment in developing and putting into production a range of advanced systems. This new MoU will add depth to our capabilities in the aerospace and defence sectors,��� Mr Naik added.
While offering defence products to India, Boeing���s business strategy aims to transform product sales into a springboard for
private and public industrial partnerships. The company already has held talks with public and private sector companies in such fields as advanced materials, electronics, engineering and airframe structures. In November 2006, some 50 Indian companies attended the Boeing-GE Supplier Conference in Bangalore, an important milestone to expand the field of current and potential Boeing suppliers within the Indian marketplace. Boeing estimates the Indian defence market to be worth around $ 10 billion to $ 15 billion in the next decade.
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