An agreement has been signed by the Mahindra Defence and Airbus Helicopters to form a joint venture for producing military helicopters in India.

S P Shukla, Mahindra and Mahindra Group President for Aerospace said in a statement that “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.”

Airbus Helicopters and Mahindra Defence have already started working on steps for producing helicopter parts locally and are defining additional work packages to be industrialized in India.

Read EquityPandit’s Technical Analysis Of Indian Stock Market