Rapid Fire 2011-12-09: India to Invest in Western Defense Manufacturers?
- A recent Finmeccanica DRS release about a $691 million sub-contract for submarine parts was wrong; the figure is apparently $400 million. More details to come later.
- India’s defense minister, meanwhile, talks about 9 more C-130Js – but the DSCA request was for only 6.
- Well, this is an interesting point of view: “It is perhaps time for the Indian majors like Tata, L&T and Mahindra Defence and indeed the Indian Government/DPSUs to invest in American and European defence companies.” After all, the hostile takeover of Arcelor by Mittal in 2006 was rocky but eventually went through to form the largest steel maker in the world. Who would have thought that possible when the roots of the European Union are found in a steel and coal common market and the French state owned Usinor-Sacilor as late as 1995? That said India is currently stalling on allowing foreign direct investment in retail so globalization is not quite complete just yet.
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