Adani Group has partnered with a major defence and aerospace company from Sweden, Saab, to bid for a contract to make fighter jets for India, unidentified officials told Reuters on Thursday. The two companies will compete with US-based military equipment giant Lockheed Martin to supply single-engine jets to the Indian military.
The aircraft will be produced locally under the “Make In India” banner. The partnership will be announced on Friday, an advisor for industry lobby group Ficci, Ratan Shrivastava, told Reuters.
Under the Defence Ministry’s strategic partnership policy, a foreign company can collaborate with an Indian firm to develop India’s aeronautical base.
In June 2017, Lockheed Martin had announced an agreement with Tata Advanced Systems to produce F-16 fighter planes in India. In October 2016, Anil Ambani’s Reliance Group had signed an agreement with Dassault Aviation to help the French defence firm invest around Rs 30,000 crore in India as part of its €7.87-billion (approximately Rs 59,300 crore) Rafale jet deal with India.