Private Sector

Lockheed Martin to deepen offset engagement in India

Lockheed Martin is pursuing plans to expand offset-related engagement with Indian industry, the US corporation has said. The effort was highlighted at the company’s seventh annual suppliers’ conference in New Delhi, which was held for five days from late July.

Lockheed Martin said in a statement on 6 August that more than 200 Indian companies of all sizes participated in the event, which was co-hosted with the Society of Indian Defence Manufacturers (SIDM) and Confederation of Indian Industry (CII).

During the conference, Lockheed Martin said it shared “new partnership opportunities” with Indian industry and that a “highlight” of these is future defence-offset work linked to the sale of 24 Lockheed Martin/Sikorsky MH-60R multirole naval helicopters for the Indian Navy (IN).

The governments of India and the United States signed a deal – worth USD2.6 billion – for the sale of these helicopters through the US Foreign Military Sales mechanism in February 2020.

 

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By Janes
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