Mumbai, India, 08 June 2007: The 51:49 joint venture between Rolta India and Thales will start operations in July this year. Thales complements Rolta with its expertise in electronics. The venture targets at least 20-25 per cent of the defence market’s IT solution requirements in India.
The venture will focus on the Indian defence market with its offering of C4ISTAR technology (command, control, computers and communications systems, intelligence, surveillance, target, acquisition and reconnaissance) in India.
Hiranya Ashar, Director-Finance and Chief Financial Officer, Rolta India, said the joint venture would cater to the $1 billion (Rs 4,100 crore) domestic market in the next 3-5 years. “Even if the venture is successful in tapping 20-25 per cent of the market, it is reasonably a big share,” he added. The Indian defence spending has been growing by around 15-18 per cent, but its IT spend rate is much higher.
Also,Rolta plans to tap the offshore business opportunity with Thales. The French company focuses on defence, aerospace and security markets worldwide, and will provide services which can be offshored to the joint venture.