Larsen & Toubro (L&T) has entered into a memorandum of understanding (MoU) with the $20 billion Raytheon Company for the medium multi-role combat aircraft (MMRCA) program, aimed at developing superior defence technology for India's military forces.
According to an official release issued by L&T to the BSE today, the MoU is a step towards establishing a strong working relationship, encouraging pursuit of emerging business opportunities, and providing for in country offset for the MRCA program.
"India has a strong pool of talent, so it makes perfect sense for us to combine Raytheon's world-class technology with the best local expertise as we develop capabilities and solutions to support the nation's emerging requirements," said Wes Motooka, VP (international strategy & business development), Raytheon Space and Airborne Systems.
"This new agreement will help us induct "state-of-the-art" technology, and expand our range of high value offerings in the defence sector," said M V Kotwal, senior executive VP (heavy engineering division), L&T.
L&T has been a major supplier of critical systems to India's defence and space research sectors for more than three decades. The products cover a wide range including rocket and missile launchers, naval systems, radar systems, gun-upgrades, fire-control systems, and tank electronics among others.
Headquartered in Waltham, US, the Raytheon Company is a technology leader specialising in defence, homeland security and other government markets throughout the world. With a history of innovation spanning 85 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services.
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