Boeing, Airbus, Russia's USC and more: Foreign firms queue up for JVs under 'Make in India' initiative

Prime Minister Narendra Modi’s pet ‘Make in India’ project appears to be receiving a thumping response as FDI into equity went up 48 percent after the launch of the programme, The Economic Times reported. ‘Make in India’, which was launched on 25 September last year, seeks to make India a global manufacturing hub. ‘Make in India’ has also featured in KPMG’s ‘100 Most Innovative Global Projects’ as one of the world’s most innovative and inspiring infrastructure projects. Here are a few major joint ventures which were inked after the launch of the programme. 1. United Shipbuilding Corporation and Pipavav Defence Russian government enterprise United Shipbuilding Corporation today chose Anil Ambani’s Pipavav Defence as its partner for a ‘Make in India’ naval frigate order that is likely to exceed $3 billion. This is likely to be the private sector’s biggest-ever warship-building project. Anil Ambani  would invest an “additional Rs 5,000 crore” into the project over the course of the next few years. ( Read more here ) [caption id=“attachment_2348146” align=“alignleft” width=“825”]  New deal. Image courtesy Pipavav Defence[/caption] 2. Boeing Military Aircraft and Tata Advanced Systems Limited Boeing Military Aircraft and Tata Advanced Systems Limited have entered a pact to work together on manufacturing aerospace and defence equipment including unmanned aerial vehicles. The Tata arm is already under a contract to manufacture aerostructures for Boeing’s CH-47 Chinook and AH-6i helicopters. ( Read more here ) [caption id=“attachment_2346086” align=“aligncenter” width=“825”]  A CH-47 ‘Chinook’ helicopter. Reuters[/caption] 3. Airbus Helicopters and Mahindra Defence Systems Airbus Helicopters will join hands with Mahindra Defence to produce helicopters in India in order to meet the country’s military requirements. The joint venture will seek to win orders for reconnaissance and surveillance, naval utility and naval multirole helicopters, Airbus said. Airbus Helicopters is one of the biggest manufacturers of army helicopters in the world. It produces helicopters like H125M, H135M H145M, AS565 MBe, AS532 ALe, H225M, Tiger and NH90. ( Read more here ) [caption id=“attachment_2346126” align=“aligncenter” width=“825”]  An Indian military chopper. Image courtesy PIB[/caption] 4. Ultra Electronics and Mahindra Defence Naval Systems Mahindra Defence Naval Systems and Britain’s Ultra Electronics  have inked a pact to manufacture and supply underwater warfare equipment for the Indian Navy and radios for the army. “The two companies will together build and supply new generation advanced systems like the torpedo defence system, integrated anti-submarine warfare defence suite and mine counter measure equipment.” ( Read more here ) [caption id=“attachment_2346146” align=“aligncenter” width=“825”]  An Indian Navy submarine anchored at Eastern Naval Command in Vishakhapattanam. Image courtesy PIB[/caption] 5. Turbomeca (Safran) and Hindustan Aeronautics Limited Hindustan Aeronautics Limited (HAL) and Turbomeca (Safran) had signed a memorandum of understanding (MoU) during the Paris Air Show last month to establish a joint venture in India to provide maintenance, repair and overhaul for Turbomeca and HAL engines installed on HAL-produced helicopters. “This JV is expected to boost the ‘Make-in-India’ drive, considering the forecast that around 1,000 Shakti engines will be flying in India over the coming years,” The Hindu reported. [caption id=“attachment_2346188” align=“aligncenter” width=“825”]  New partnership. Image courtesy HAL website[/caption] 6. Stanadyne and Amalgamations Group In response to the ‘Make in India’ call, US-based Stanadyne, a manufacturer of diesel and gasoline fuel systems, is planning to invest Rs 100 crore over the next 24-30 months to increase production capacity at its Chennai plant. The Hindu reported: “In India, the company is a joint venture between the Stanadyne and Chennai-based Amalgamations Group, which has companies such as Simpson & Co, Addison & Co, Amco Battery and India Pistons under its fold.” [caption id=“attachment_2346214” align=“aligncenter” width=“825”]  Cementing more partnership,. Image courtesy Stanadyne.[/caption] 7. Fiat Chrysler and Tata Motors According to a Mint report on 1 July, Fiat Chrysler will invest $280 million to begin Jeep production in India from 2017 through an expanded joint venture with Tata Motors. By 2018, Fiat Chrysler seeks to almost double the 1 million Jeep sales recorded in 2014.