Top U.S. defence contractor Lockheed Martin Corp. has made two formal bids to sell about $1 billion worth of naval aircraft to India, a senior company official said on Thursday.
The bids are the latest by an American defence firm to leverage warming bilateral relations between the two countries who were on the opposite sides of the Cold War.
Under the first bid, Lockheed has offered to sell 8 upgraded U.S. Navy P-3 aircraft to replace a fleet of vintage Russian reconnaissance planes for $550-700 million.
The other bid is for 16 multi-mission MH60R helicopters costing $350-400 million, said Royce Caplinger, head of Lockheed's Indian operations.
"It's a case of the perfect storm: the bilateral relationship, the requirement for products like ours, a budgeting process in India that is fixed and real, the money and there seems to be political will," he told Reuters.
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