New
Delhi: State-run firm Bharat Electronic Ltd has signed an agreement
with US aircraft manufacturer Boeing Co to jointly set up a facility to
help modernise India’s defence forces, the company said in a statement.
The
proposed analysis and experimentation centre will be staffed with local
personnel who will work with India’s Defence Ministry, the statement
said.
India is looking to spend $30-40 billion on imports
over the next five years to modernise its largely Soviet-era arms by
introducing new weapons systems.
It is allowing state-run and private firms to tie up with foreign defence equipment makers to scale up domestic production.
Boeing
along with Lockheed Martin Corp, France’s Dassault Rafale, Sweden’s
Saab are vying for a contract to supply India with 126 multi-role
fighter jets potentially worth more than $10 billion.
Earlier,
the Boeing India head said that the firm was looking to bid for defence
projects worth up to $31 billion over the next 10 years in India, as
strategic ties between India and US deepen.
