The Indian government has approved a proposal by Thales and New Delhi-based Samtel Display Systems to form a joint venture (JV) to develop and locally produce helmet-mounted sight and display systems and avionics. India's Foreign Investment Promotion Board (FIPB) stated on 26 March that approval had been given to Thales to set up the JV "with a foreign equity participation of 26 per cent in [the] defence sector". However, despite the reference to defence, the FIPB classified the investment under "civil aviation". It added that Thales' initial investment in the JV, which will be called Samtel-Thales Avionics Ltd, amounted to INR1.1 million (USD21,000). Speaking to Jane's on 27 March, a Thales spokeswoman said: "The JV ... fits into the group's worldwide multidomestic policy: to be Indian in India, British in Britain, American in the US. Samtel-Thales Avionics Ltd is Thales' second JV in India [following the creation of a JV with Rolta in 2006]."
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