Rossell India, CAE joint venture gets nod from FIPB

CAE TRAINING CENTRE IN BANGALORE

Rossell India Limited announced it has received approval from the Indian Foreign Investment Promotion Board (FIPB) to form a joint venture company with CAE to provide synthetic training solutions for the Indian defence market. Rossell India will hold a 74 per cent share, while CAE will hold the rest.

The focus of the JV is to provide training solutions for defence procurements where India is acquiring foreign platforms.

“Rossell has been looking for growth opportunities and we are pleased to form a joint venture with a global leader such as CAE,” said Harsh Mohan Gupta, Executive Chairman, Rossell India Limited. “The Indian Ministry of Defence has specifically recognised simulation and training services as being eligible for offsets so we expect this company, which will have access to CAE’s world-class technology and experience, to be an attractive partner to foreign OEMs looking to meet offset requirements.”

Martin Gagne, CAE’s Group President, Military Products, Training and Services, said “The Indian defence forces recognise the benefit that simulation can provide to enhance their operational training while reducing costs and are now requiring high fidelity simulation for all their major platform acquisitions. CAE believes simulation and training will continue to take on more importance in India, which is why we have and will continue to make significant investments in-country. We are firmly committed to being a long-term partner by bringing our world-class technology and capabilities to India’s defence forces.” To know more contact Air Vice Marshal (Retd) Satish Sofat, Vice President at corporate@rosselltechsys.com or Chris Stellwag, Director, Marketing Communications-Military at chris.stellwag@caemilusa.com.