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Mahindra, Airbus sign pact to form JV for military helicopters in India

The statement of intent was signed both companies in the presence of PM Modi and French President Hollande

Press Trust of India  |  Chandigarh 

Mahindra, Airbus sign pact to form JV for military helicopters

Taking forward the memorandum of understanding signed in July, and today inked a pact to form a to produce in

The statement of intent was signed today by representatives of both in the presence of Prime Minister and French President

"We have made significant progress in setting up the and together the are creating a world-class advanced helicopter production facility in India," Mahindra and Mahindra Group President for Aerospace and Defence S P Shukla said.

and have already started working on steps to produce helicopter parts locally and are defining additional work packages to be industrialised in

Simultaneously, both sides are evaluating potential industrial sites and are screening the existing local supply chain while moving ahead with the setting up of the JV.

"Through this partnership, we target building several of our globally leading helicopter models in This will lead to the transfer of state-of-the-art technologies, development of manufacturing activities and creation of high-skilled jobs in India," said President and CEO Guillaume Faury.

The are proposing to set up a final assembly line in India, develop tier-1 and tier-2 suppliers and make extensive transfer of technology, with the intent to ultimately achieve 50% indigenous content.

"and Airbus Helicopters have agreed on a blueprint that can put India on the world map for military helicopter manufacturing," President of Airbus Group India Pierre de Bausset said.

The JV formation will be subject to customary regulatory approvals.

"The helicopters we are proposing are of proven designs. We are laying the groundwork with the objective to ramp up quickly," Mahindra Defence Naval Systems CEO Devendra Bhatnagar said.

First Published: Sun, January 24 2016. 20:32 IST