Boeing in pact with Indias BEL

Indian state-run firm Bharat Electronic Ltd has signed an agreement with US aircraft manufacturer Boeing Co to jointly set up a facility to help modernise India8217;s defence forces,the company said in a statement on Saturday. The proposed analysis and experimentation centre will be staffed with local personnel who will work with India8217;s Defence Ministry,the statement said.

India is looking to spend 30-40 billion on imports over the next five years to modernise its largely Soviet-era arms by introducing new weapons systems.

It is allowing state-run and private firms to tie up with foreign defence equipment makers to scale up domestic production.