Article Posted on : - Sep 30, 2011

NEW DELHI (PTI): Swedish defence major Saab has said it will strengthen its presence in the Indian market by launching its fully-owned subsidiary 'Saab India Technologies Private Limited' from October 1.

"Saab strengthens its commitment as a long-term partner of Indian defence industry, armed forces and national security with its new Indian entity 'Saab India Technologies Private Limited' starting October 1," the company said in a release on Thursday.

Saab India Technologies Private Limited is a wholly-owned subsidiary of Saab, establishing India as a strategic home market of the future.

"We are intensifying our operations in India with a long-term perspective contributing with technological know-how to the Indian defence industry," Saab India Private Limited head Jan Widerstrm said.

Saab has been present in Indian defence sector for quite some time and is taking part in a number of procurement projects of Indian armed forces.

It is offering its shoulder-fired missiles for Indian Army's requirements for very short range air defence systems and various other systems.