In a bid to provide the surveillance and communication devices to the Indian defense sector, the Indian auto giant Mahindra & Mahindra has joined hands with the US-based Telephonics, which is a unit of the US based diversified Griffon Corporation. Besides offering these devices Defense sector, a range of these surveillance and communication equipments will also be on offer for civilians.
Mahindra is a majority stake holder in this joint venture with holding a stake of 74 percent, while the remaining stake has been acquired by Telephonics. The newly formed Mahindra – Telephonics joint venture will be operating in the fields of homeland security and air traffic management services. The firm will be catering to the emerging surveillance requirements along with other communication requirements of the Indian defense sector.
"We will be filing our application with foreign investment promotion board (FIPB) by the end of this month and expect the approvals to come through in the next two or three months. The JV should be operational by April next year,” Mahindra Defense Systems chief executive Khutub Hai said, while commenting on the tie-up.
Mr. Hai added that the company is looking at the business potential of $3.5-4 billion in the communication side and is hopeful of developing solutions for the Indian market by absorbing the best technology from its American partners. According to him, there is a huge potential for border and maritime surveillance as well as management of inter-communication businesses, both for voice and data functions.
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