According to reports, Honeywell International has been holding strategic meetings with Mahindra Group in hopes of creating a partnership in the defense and civil aviation sectors.
The main focus of the talks are regarding the aerospace, defense, and general business aviation divisions.
The discussions signify Honeywell’s efforts of tapping into the Indian defense industry, a market with huge potential. Recent plans by the government to increase foreign direct investment (FDI) limits set for the defense sector makes this move all the more appealing for Honeywell.
The plan that was recently approved looks to nearly double the amount of FDI allowed in India’s defense industry from 26 percent to 49 percent. This growth in the Indian defense industry would make the move of Honeywell teaming with Mahindra make sense for both sides.
The combination of both technology and capital in India is what makes Honeywell so keen on growing their footprint in India. The conglomerate sees a massive upside in the world’s second most populated country.
Honeywell has already established its presence in India through another deal it made recently with Tata Power Ltd. The deal licensed Tata Power to produce Honeywell’s Patented Tactical Advanced Land Inertial Navigator (TALIN) in India. This technology set a new benchmark for Indian defense technologies. It allows vehicles and artillery to navigate with precision without aid from a GPS or satellite guidance.
It is also worth noting that the Indian Air Force is thinking about giving Honeywell a contract to supply approximately 270 F125IN engines as part of a project to upgrade its fleet of Jaguar planes. The project covers about 125 Jaguar fighter jets.
Mahindra Aerospace is the aerospace division of the Indian multinational conglomerate company Mahindra Group. The company was founded in 2003, and it is the first Indian private firm to make smaller civil aircraft for the Indian general aviation market.
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