Defence major Thales targets threefold rise in revenue from India

Thales, an European technology major, catering to the defence and other sectors globally, has set a target for the near term to generate annual revenue of $1.23 billion from India, a nearly threefold rise.  

The company, which has joint ventures (JV) with Bharat Electronics (BEL), Reliance, and Larsen & Toubro, among others, said it would be using India to export some products. It will also double its annual sourcing from India, to $740 million.

Emmanuel de Roquefeuil, the vice-president and country director for Thales in India, said India was one of their three main markets, which Thales wanted to develop.