New Delhi, Mar 15 (ANI): A senior executive at European conglomerate Airbus Group said the Indian government's rules restricting foreign ownership in defence sector to 49 percent were undermining New Delhi's drive to lure greater investment in manufacturing. Airbus Group India president Pierre de Bausset said his company needs to own a majority share in joint ventures to justify more investment and the transfer of key technology to Indian firms desperate to learn to build everything from fighter jets to transport planes to weapons systems. Airbus is in talks with Mahindra Group to jointly develop India's first privately built helicopter. It has also offered to transfer the final assembly of its Panther choppers to India if it wins a helicopter order, as well as build 40 C295 transport planes locally.
