Raytheon partners with Indian defense firm
Raytheon Co. and Northrop Grumman Corp. today each announced agreements with an Indian defense company.
Both companies are participating in a large Indian air show along with other U.S. companies vying for a stake in the Indian defense market, now that India is opening its market to U.S. suppliers.
Raytheon said its space and airborne systems division had signed a memorandum of intent with Tata Power Ltd.'s Strategic Electronics Division to encourage collaboration in areas of complementary expertise and experience.
The Waltham, Massachusetts-based company said the agreement was a first step toward forging new relationships with a range of Indian technology companies.
Rahul Chaudhry, chief executive officer of the Tata Power division, said working together with Raytheon would "bring the benefits of scale and experience to Tata Power SED, allowing us to leverage the offset and other business opportunities."
Northrop Grumman said it signed a memorandum of understanding with India's Dynamatic Technologies Ltd. to explore joint opportunities in India's national defense sector.
"We look forward to working closely with Dynamatic Technologies to help meet the advanced technology aerospace and defense product and service needs identified by the Indian ministry of defense," said Brian Morra, a senior official with Northrop Grumman's electronic systems sector. (Reuters)
