IDEX 2017

Missile tie-up with India [IDEX17D2]

19 February 2017

India’s Larsen & Toubro (L&T) and European missiles house MBDA have announced the formation of an India-based joint venture to pursue opportunities for the development and supply of missile systems to meet the growing potential requirements of the Indian armed forces.

The new company, to be known as L&T MBDA Missile Systems Ltd, is expected to be incorporated in the first half of 2017 after necessary approvals. L&T will own 51 per cent of the company and MBDA 49 per cent, fully complying with India’s Foreign Direct Investment policy norms.

To begin with, the joint venture will look to develop and supply fifth-generation anti-tank guided missiles, anti-ship missiles for coastal defence, and high-speed target drones.

(115 words)