Bangalore: U.S defence contractor Lockheed Martin Corporation is looking at the possibility of making some new commercial products in India for the global market to cut development time and cost, a company official said today.
Royce Caplinger, Managing Director, India, Lockheed Martin, said research and development in the U.S for new products took a longer time and a lot of money.
“Increasingly in the global economy where we live, you don’t have the luxury of taking 20 years to bring a product to the market place”, he said adding the products needed to be made at a cheaper cost.
“We are hoping that India will be one of the places we can do that”, he told a press conference here.
Caplinger, however, declined to give the nature of products to be made in India but indicated that it would not be for defence sector, saying “defence is a different beast”.
“We are approaching India on a very broad front”, he said. “We are looking at business opportunity... What’s the thing we can do in India..that we can take to the global marketplace”.
The $39.6 billion company was looking to make products in India that would be cheaper and better to compete in the global marketplace.
Senior Vice-President and Chief Technology Officer of Lockheed Ray O Johnson said the company would explore possibilities of setting up an R & D centre in India to leverage the engineering talent pool.