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Thursday, July 23, 2009

Boeing, Lockheed hail US-India defence deal

F-18 Super HornetTwo US defence industry giants, each vying for a huge fighter-jet contract with India, Wednesday hailed a bilateral accord promising to open the door to greater military commerce between the countries.

Lockheed Martin and Boeing are neck-and-neck in the race for the world's richest fighter aircraft deal in 15 years, worth almost 12 billion dollars, to sell 126 jets to the Indian Air Force.

On Monday US Secretary of State Hillary Clinton and her Indian counterpart S.M. Krishna agreed on an "end-use monitoring" arrangement that would provide safeguards for the sale of sophisticated US weaponry to India.

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