Paris, Nov 09: Acknowledging India as a key market for its products and services, European Aeronautic Defence and Space Company may soon set up a wholly-owned subsidiary there which will then establish downstream ventures in the country. "India is a strategic country for EADS... We have a liaison office there as of now but this we plan to convert into a wholly-owned subsidiary," a senior EADS official told here on condition of anonymity.
This subsidiary may then act as a holding company for several joint ventures EADS has either already initiated or is negotiating for, he said, adding the exact function of this subsidiary would be clear once the consortium seeks permission from the Indian government for establishing it.
The official said India is one among the 13-14 other countries identified by the consortium as strategic nations with immense future potential for EADS and that products jointly developed with Indian companies will be exported across around the world.
"India offers highly talented, economic labour force. Also, it is a good source for software used in simulations and design," he said.
EADS, the largest aerospace company in Europe and the second largest worldwide, has presence in civil and military aircraft, space and defence systems and services.
Bureau Report