Airbus Helicopters and Mahindra Defence are to produce indigenous military helicopters for Indian military services.
Representatives from both companies have signed a statement of intent, following a memorandum of understanding (MOU) last July that formed the joint venture (JV) as part of the Make in India initiative.
Mahindra & Mahindra Aerospace and Defence Group president SP Shukla said: "We have made significant progress in setting up the joint venture and together the companies are creating a world-class advanced helicopter production facility in India."
Airbus Helicopters president & CEO Guillaume Faury said: "Through this partnership, we target building several of our globally leading helicopter models in India. This will lead to the transfer of state-of-the-art technologies, development of manufacturing activities and creation of high-skilled jobs in India."
The companies also plan to establish a final assembly line in India, develop tier-1 and tier-2 suppliers, and transfer technology to achieve 50% indigenous content.
To be established after the receipt of customary regulatory approvals, the JV will manufacture helicopter parts and define additional work packages for its proposed assembly line in India.
The companies are currently evaluating the existing local supply chain for the JV, identifying potential industrial sites, and defining initial work packages to be transferred to India.