Italian arms major eyes Indian market to boost business

Huma Siddiqui
Posted: Friday, Oct 31, 2008 at 2306 hrs IST
Updated: Friday, Oct 31, 2008 at 2306 hrs IST

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New Delhi, Oct 30: While the IAF will be buying 12 helicopters the US has placed an order for 20 machines.

The entry of the Italians is not incidental. Ever since both India and Italy decided to enhance bilateral co-operation in defence production in 2002 and inked a memorandum of understanding (MoU) on defence industrial co-operation the following year, defence ties have been growing steadily.

One reason for the Italian connection is the recent policy of diversifying India’s arms suppliers. Almost 70% of the Indian weaponry is of Soviet and Russian origin with the navy almost entirely dependent on Russian weaponry for its warships, submarines and aircraft....

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