New Delhi: US defence systems supplier Raytheon Co. on Tuesday said it was looking forward to more collaborations with Indian firms as it considers the country a potential future global outsourcing destination.
The company on Tuesday signed a memorandum of understanding (MoU) with Noida-based Precision Electronics Ltd for joint development of superior communications technology for Indian military.
“Currently, we do not have any outsourcing activities from India through alliances we have with firms here for offset projects. But we see a huge potential there,” Raytheon international president (Asia) Walter F. Doran said.
He said in the past one year the company had signed MoUs with as many as five Indian firms, taking the total so far to eight.
“As the government’s policy on offset programmes develops, there is a potential for us (with the Indian partner) to cater not only to India’s requirements but also to other global markets,” he said, adding that Raytheon would like to be a long-term player here.