Lockheed Martin expects to clinch defence deal

KOLKATA: Lockheed Martin Corporation of US was hopeful that the first ever Indo-American defence deal valued at USD one billion would be sealed by the end of the current financial year.

The US and Indian governments were expected to sign a contract by March 2008 for the supply of six C130J Hercules transport aircraft for the Indian Air Force. "This will be the first Indo-US defence deal," Royce Caplinger, Managing Director of Lockheed Martin India said today.

The deal was valued at USD one billion, he told reporters on the sidelines of Lockheed Martin India Innovation Growth Programme here.

He said that Lockheed Martin, which manufactures F16 fighter jets, was establishing its brand in India after many years of being on the sidelines.

"Due to various reasons, the US was not able to enter the Indian defence market," he said.

Caplinger said that besides the C130J deal, Lockheed Martin would also submit a proposal to the Indian Air Force's tender for purchase of 126 fighter jets by March 2008.