India's Mahindra Defence and France's Airbus have announced that they will join forces to make defence helicopters in India as part of the Make In India Initiative.
Among the 16 agreements signed between India and France on the first day of French President's three-day visit to India, Mahindra and Airbus Helicopters has made pacts to set up a joint venture to manufacture the choppers in India.
Three Memorandums of Understanding (MoU) were also signed along with deals in sectors like transport, water and waste treatment and solar energy. The deal was signed under the Prime Minister's Smart City program for urban development projects in Chandigarh, Nagpur, and Puducherry.
"We have made significant progress in setting up the joint venture and together the companies are creating a world-class advanced helicopter production facility in India," Mahindra and Mahindra said in a statement.