Lockheed Martin could begin supplying wings for its F-16 combat jets from a facility in southern India from next year, a senior executive said. Lockheed is bidding for a contract, estimated at more than $15 billion, to supply the Indian Air Force with 114 combat planes and has offered to...
JV between AgustaWestland and Tata Sons, India Approved by Government
India’s Foreign Investment Promotion Board cleared a proposal to set up a helicopter assembling unit by Indian Rotorcraft Limited, a joint venture between AgustaWestland and Tata Sons. Indian Rotorcraft will now undertake the final assembly of helicopter model AW 119Kx in lieu of AW 119Ke as proposed earlier, and these...
New Defense Minister Acts Quickly
Six times since the infamous Bofors scandal of the 1980s, India has cancelled the purchase and upgrade of its artillery. This is set to change. At his very first opportunity to chair the Defense Acquisition Council meeting, Manohar Parrikar issued orders for a Request for Proposal to be launched for...
Tesco Enters India's Retail Market
Retailer Tesco plans to become the first global chain to enter India since the government allowed foreign companies to invest in multi-brand retail more than a year ago. Tesco proposed to invest about $110 million to gain a 50 percent stake in partner Trent Hypermarket Ltd (THL), a unit of...
Mukesh Ambani 18th Richest Man In World: Bloomberg
According to the India Journal, Indian business magnate Mukesh Ambani is the 18th richest person in the world on the Bloomberg Billionaires Index, with a personal wealth of $24.7 billion in 2012. Ambani runs Reliance Industries Ltd, a India petrochemicals conglomerate with interests in retailing and some assets in the...
Stylish Tata Nano is now a Museum Exhibit at Cornell
An innovative car from India that costs just $2,500 is now the star of a museum exhibition at an Ivy League school. It most countries, you may be excused from thinking this a crazy notion. And it wouldn’t generally work unless there’s something special on offer. Which in this case...