Latin America is the the next big stop for Indian firms looking to expand their operations overseas.
After a clutch of automobile and energy sector investments in the region, state-owned aerospace major Hindustan Aeronautics (HAL) is now eyeing this lucrative market with its indigenously developed advanced light helicopter Dhruv.
According to RK Tyagi, chairman, HAL, the company participated in an international competitive bidding tender in Ecuador and was successful in bagging the contract for export of seven Dhruv helicopters to the country to be operated by the Ecuadorian Air Force.
“HAL is in contact with other potential customers in the region and business prospects are being pursued in other Latin American countries such as Bolivia, Peru, Colombia, Brazil etc,” Tyagi added.
The HAL strategy in the region would be two fold. First, it would secure orders for advanced aerospace equipment. And once this generates enough interest in the region, the company would scout for location to set up a manufacturing base. Several countries, where HAL is exploring export orders, have already indicated their intent to allow the Indian entity to set up a manufacturing facility...
HAL plans to take Dhruv to Latin American market - Financial Express