New Delhi: In a significant development, US defence major Lockheed Martin has reportedly finalised a deal with Indian government to produce the latest version of F-16 fighter jets in India under PM Modi’s ambitious ‘Make in India’ programme.
According to a report published in The Hindu Business Line, the deal was finalised during the recent India visit of Marillyn Hewson, Lockheed Martin’s Chairman, President and CEO.
The report, quoting a top official of Lockheed Martin, further says that the US company will produce F-16 Block 70/72 , the latest version of these top-line fighter jets, exclusively in India by 2019-20.
These jets will not be produced anywhere else in the world. These jets are also supposed to be the ‘most-advanced’ version of the iconic F-16 fighter aircrafts.
The report quotes the Lockheed Marteen official as saying that the company plans to export these fighter jets from the Indian plant in future.
The US defence major is likely to co-produce these F-16s in collaboration with the Tata Advanced Systems Ltd and therefore it may not opt for 100 percent FDI route for this project.
The report further adds that the Lockheed Martin is presently looking for land to set up its manufacturing unit in a state that has a runway near a port.
