Mumbai, Feb 18: Tata power's Strategic Electronics Division (SED) has signed a memorandum of understanding with France-based company Thales to offer optronics solutions for the Indian defence market.
Under the agreement, the duo will provide optronics solutions to the defence security systems for MMRCA programme and other programs on existing or future airborne platforms, the company informed the BSE. Rahul Chaudhry, Chief Executive Officer of Tata Power SED, noted that ''Large defence program like MMRCA with offsets have created opportunities for Indian Companies with Defence Systems experience.
Tate Power SED will leverage this partnership with Thales, a world leader in Defence Systems, to serve our customers better.'' However, while taking to the sources, he declined to give details of the products they are planning to manufacture and introduce in Indian defence market.
He said, '' We have just entered into a joint venture by signing an agreement, we will see whether the Indian defence market accepts our products or not. Market is very vast and, at present we are not in a position to reveal our plans ahead.'' Mr Chaudhary said the agreement will allow both Companies to develop transfer of technologies in order to implement local contents and meet the offset requirements of Ministry of Defence.