Lockheed Martin Current Affairs - 2020
The Union Defence Minister Nirmala Sitharaman inaugurated the Tamil Nadu Defence Industrial Corridor. During the inauguration, investments worth over Rs 3,038 crore in this defence corridor were announced. Lockheed Martin, a global security giant, also announced its intention to invest in the corridor.
About the Corridor
The important features about the Tamil Nadu Defence Industrial Corridor are:
- It is also called as Tamil Nadu Defence Production Quad as the nodal cities of Chennai, Hosur, Salem, Coimbatore and Tiruchirappalli form a quadrilateral with one of them at the centre.
- The five nodal cities already have existing defence ecosystem in the form of ordnance factory boards, vendors working with defence PSUs, and other allied industries.
- Together with helping in accelerated growth and regional industry agglomeration, the defence corridor will also facilitate a well-planned and efficient industrial base which will lead to increased defence production in the country and the region.
- The corridor will help the industry to integrate with the global supply chain of Defence manufacturing.
- Tamil Nadu Defence Industrial Corridor would be a specialised facility of aero component manufacturing.
- Tamil Nadu Defence Industrial Corridor is the country’s second defence industrial corridor after the first one was launched in Aligarh, Uttar Pradesh August last year.
Tamil Nadu currently ranks 4th in exports with 9.8% of India’s total exports. The corridor will further expand the exporting opportunities from the state.
Tags: Chennai • Coimbatore • Hosur • Lockheed Martin • Salem
American security and aerospace giant Lockheed Martin has entered into an agreement with Tata Advanced Systems Limited (TASL) to manufacture wings of its F-16 fighter jets in India. Producing F-16 wings in India will support Central Government’s flagship ‘Make in India’ programme and strengthen Lockheed Martin’ strategic partnership with TASL.
Lockheed Martin and TASL joint venture is bidding for contract to supply Indian air force (IAF) with 114 combat planes, estimated at more than $15 billion which must be all manufactured locally under Make in India programme. Lockheed has offered to move its entire F-16 manufacturing base to India.
The proposed production of F-16 wings in India is not contingent upon company winning order from IAF for these planes. It will help to push local manufacturing that will generate jobs and also end armed forces dependence on imports. Lockhead Martin and TASL already have entered into partnership for C-130J [Super Hercules airlifter] and S-92 [helicopter].