"The two companies have signed an agreement to offer the BvS10 for an Indian armed forces programme", the statement said.
Arms sales by the 100 biggest weapons makers fell for the first time since the mid-90s in 2011 as economies slowed and military equipment purchases were reduced for operations in Afghanistan and Iraq, a leading think-tank said on Monday.
Mahindra & Mahindra on Saturday said it's unit Mahindra Defence Systems will acquire BAE Systems' 26 percent stake in their joint venture company Defence Land Systems India, citing changes in the business environment and customer procurement frameworks among other reasons.
Mahindra and Mahindra today said it will acquire 26 percent stake in its defence joint venture with BAE Systems, ending their three-year old partnership.
India today sought investments from Britain in sectors like infrastructure to enhance economic ties between the countries.
Major global companies including Novartis, BAE Systems and Philips today expressed interest in expanding their businesses in India.
Mahindra & Mahindra and BAE Systems are reviewing their joint venture, Defence Land Systems India given "significant evolution" that has happened in the Indian market, the utility vehicle maker to software services provider said on Wednesday.
The attempt by BAE Systems and EADS to create the world's biggest aerospace and defence company collapsed last week, but the planned merger raised big questions. suvil
European consortium Eurofighter expects the global combat aircraft export market to reach 800 units in 20 years, and it expects to deliver 250 of those planes, a senior executive said on Thursday.