A wel­come move

Phil Shaw, Chief Ex­ec­u­tive of Lock­heed Martin In­dia.

SP's MAI - - MILITARY OEMSPEAK -

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.

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