Lockheed Martin eyes India

Bangalore, July 20 (UNI) Lockheed Martin, one of the world's premier defence companies, is exploring the possibility of making new commercial products in India for the global market to cut development time and costs, Managing Director (India) Royce Caplinger said today.

Speaking to newsmen here, Mr Caplinger said research and development for new products in the United States would take long time and involve huge money.

''Increasingly, in the growing global economy where we live,you do not have the luxury of taking 20 years to bring the product to market place,'' he remarked.

Saying quality products were being manufactured at lower costs, he said, ''we are hoping that India will be one of the places we can do it.'' He declined to explain the nature of products to be made in India.

However, it would not include defence items, he clarified.

The company approached India with a broad front to further progress in business opportunities.

Senior Vice President and Chief Technology Officer Ray Johnson said the company would consider setting up a Research and Development Centre in India to leverage the engineering talent.

UNI