Following the Indian policy aimed at the indigenization of the Defense Sector with the initiative Make in India, Larsen & Toubro (L & T), an Indian multinational conglomerate, and MBDA, a world leader in the field of missile systems, have formed a j for the development and supply of missiles and related systems to meet the growing needs of the Indian armed forces.
La joint venture company, which has taken the name of "L & T MBDA Missile Systems Ltd", will operate from a dedicated location that will host pyrotechnic integration and final assembly. It will be incorporated in the first half of the year, after the necessary authorizations.
L&T will own 51% of the company and MBDA 49%, in full compliance with the rules of India's foreign direct investment policy.
L&T MBDA Missile Systems Ltd will be registered in India, operating as an Indian company, therefore subject to relevant legislation.
The decision to formalize this partnerships, a milestone for both L&T and MBDA in their respective long-term strategies, was taken after extensive evaluations. L&T and MBDA have so far collaborated and are collaborating on the development and production of subsystems involving complex technologies and sophisticated weapon systems such as MICA missile launchers.
