Saab, Adani to partner to build single-engine fighter jets in India-consultant

By: | Updated: August 31, 2017 4:11 PM

Sweden's Saab will tie up with India's Adani Group to bid for a contract to make fighter aircrafts in India, an aerospace consultant aware of the proposed partnership told Reuters on Thursday.

saab, adani, saab adani partnership, fighter jets saab, fighter jet adani, saab news, adani news, Gripen E, facts about Gripen EThe Saab-Adani partnership is aimed at producing planes under India’s new “strategic partnership” policy. (Saab Photo)

Sweden’s Saab will tie up with India’s Adani Group to bid for a contract to make fighter aircrafts in India, an aerospace consultant aware of the proposed partnership told Reuters on Thursday. The partnership will compete with U.S. defence giant Lockheed Martin in a two horse-race to equip the Indian military with single-engine jets to be produced locally under Prime Minister Narendra Modi’s “Make-in-India” initiative.

The Saab-Adani partnership is aimed at producing planes under India’s new “strategic partnership” policy, said Ratan Shrivastava, the independent New-Delhi-based consultant and adviser at India’s industry lobby group FICCI said. The partnership will likely be announced on Friday, Shrivastava said.

Saab President and Chief Executive Hakan Buskhe will host a media event in New Delhi on Friday, Saab said in a press invitation issued on Wednesday. It did not give details. Saab did not immediately respond to a request for comment. There was no immediate comment from Adani, which is a $12 billion group with businesses ranging from energy and logistics to real estate and defence.

Under the country’s new defence partnership policy, a foreign aircraft maker will collaborate with an Indian firm to develop a world-class indigenous aeronautical base that India has struggled to build for decades.

Also See: Gripen E: 7 facts about the fighter aircraft Saab is offering under ‘Make in India’

Lockheed has already picked India’s Tata Advanced Systems as its local partner to produce its F-16 fighter planes that will compete with Saab’s Gripen aircraft. The government will issue a formal request to Lockheed and Saab over the next few days to provide information about their plans to design, develop and produce combat jets in India, a government official told Reuters earlier this week.

India’s air force needs hundreds of aircraft to replace its Soviet-era fleet, but Modi wants the planes built in India to help boost the domestic industrial base and cut imports.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition