Tata-Lockheed Martin pens a major investment in India

Lockheed Martin (NYSE: LMT) and Tata Advanced Systems (TASL) Letter of Intent to produce the F-16 Block 70 in India will support thousands of jobs in the United States, and one of the biggest technology-driven investment in the country.

F-16 production in India supports thousands of Lockheed Martin and F-16 supplier jobs in the US, creates new manufacturing jobs in India and positions the Indian industry at the centre of the most extensive fighter aircraft supply ecosystem in the world, said the two companies as their executives signed the agreement in Paris on 19 June 2017.

Observers said the government-to-government approved deal, once confirmed after Prime Minister Narendra Modi meets US President Donald Trump, will make it the biggest technology-led investment in India.

“India is considered as the most suitable place to shift F16 production out of the United States, as New Delhi maintains strong relations with emerging markets, including Africa states, which would be good for F16 sales,” said an industry observer.

The F-16 Block 70 is ideally suited to meet the Indian Air Force’s single-engine fighter needs and this unmatched US-Indian industry partnership directly supports India’s initiative to develop private aerospace and defense manufacturing capacity in India, said a statement issued after the Paris agreement signing.

“This agreement builds on the already established joint venture between Lockheed Martin and Tata and underscores the relationship and commitment between the two companies,” said N Chandrasekaran, chairman of Tata Sons.

“Lockheed Martin is honoured to partner with Indian defence and aerospace leader Tata Advanced Systems Limited on the F-16 programme, said Orlando Carvalho, executive vice president of Lockheed Martin Aeronautics.

“Our partnership significantly strengthens the F-16 ‘Make in India’ offer, creates and maintains numerous new job opportunities in India and the US, and brings the world’s most combat-proven multi-role fighter aircraft to India,” Carvalho said.

The Lockheed Martin-TASL F-16 partnering agreement builds on TASL’s proven performance manufacturing airframe components for the C-130J airlifter and the S-92 helicopter.

With more than 4,500 produced and approximately 3,200 operational aircraft worldwide being flown today by 26 countries, the F-16 remains the world’s most successful, combat-proven multi-role fighter ever produced. The F-16 Block 70 is the newest and most technologically advanced F-16 ever offered. fii-news.com