Britain’s Cobham plc said yesterday it is establishing a subsidiary in India early next year to help it forge closer relations with key customers and business partners, in particular to respond to defense offset commitments that are part of any contracts the company is awarded in India.
“Part of the remit of Cobham India Private Limited includes putting in place structures and processes to ensure that we are well positioned to respond to defence offset commitments,” Andy Stevens, who takes over as CEO of Cobham in January, said in a statement. “Cobham is committed to building a significant long-term investment in India. We already knew that India was one of our most important export markets, however, our Liaison Office in New Delhi, which we opened in 2008, has given us a much better understanding of the needs of our customers and partners. As a result, we have decided to significantly enhance our permanent presence in India in 2010.”
Cobham also said it plans to increase its industrial participation in India.
The creation of the new subsidiary, which will have offices in Bangalore and New Delhi, by Cobham is in line with the increased attention other aerospace and defense contractors such as Britain’s BAE Systems and Boeing [BA] are giving India.