A welcome move
Phil Shaw, Chief Executive of Lockheed Martin India.
SP’s M.A.I. (SP’s): What do you think about the 49 per cent FDI limit increased from 26 per cent recently? Phil Shaw (Shaw):
Lockheed Martin welcomes the move by the new Indian Government to increase foreign direct investment in the defence sector and looks forward to working with Indian customers to help meet their requirements. SP’s: What all can your company offer to our country with this change now versus the past limit? Shaw:
Lockheed Martin reviews partnerships and joint ventures based on the business case. The corporation will continue to review potential partnerships in the same manner and agreements regarding investment will be made accordingly. SP’s: Can you brief us about your joint activities with Indian industry? And the business arrangements involved in these joint activities? Shaw:
Lockheed Martin has a joint venture in India—Tata Lockheed Martin Aerostructures—in which we hold a 26 per cent share. Local employees manufacture airframe components for C-130 customers across the world.
SIM Industries, a Lockheed Martin company, has a joint venture with Fly Wings Aviation called Flight Simulators Techniques Centre (FSTC). FSTC is a world-class pilot training facility in Gurgaon, Haryana. It is the first pilot training centre in North India to meet aviation training requirements. The centre has been set up with a vision to reduce the burden of airlines towards travel and hotel costs and also ensure immediate availability of pilots for operation. SP’s: Why does there seem to be a demand for 51 per cent FDI limit still? Is that justified? Shaw: We welcome the Indian Government’s decision to increase foreign direct investment in the defence sector. It would be inappropriate for us to comment on statements from others as this is a matter for the Indian Government to which your question should be directed.