List of Top 20 Joint Venture Companies

(JVC) in India

History of JVC in India:

Joint Ventures in India is not a new phenomenon. They began during British colonial rule of the
Indian subcontinent.

Post-1947, some foreign companies withdrew their holdings and sold stakes to Indian partners.
However, since the 1960s, several new JVs have emerged in India, especially in very vital
sectors.

Thanks to India’s vibrant economy, there are several JVs that are flourishing in this country.
Here, we pay tribute to the top 20 such Joint Venture companies of India.

While some companies are JVs between Indian and foreign partners, others are excellent
examples of Indian firms combining forces with international majors to launch world-class
enterprises that offer products and services within and outside this country. Below we have
presented 20 best examples of Joint Ventures in India.

List of Top 15 Joint Venture Companies in India 2019

1. Hindustan Aeronautics Ltd

Hindustan Aeronautics Ltd is India’s aerospace and defence company with headquarters in
Bangalore, Karnataka.

HAL is one of the ‘Navratna’ companies of India, meaning, it is one of the drivers of this
country’s economy while being of vital service to the nation.

HAL has the highest number of JVs in India. They include JVs for making fixed wing fighter and
civilian aircraft, aircraft engines, helicopters, defence systems and aerostructures and myriad
other aerospace and aeronautics related products.

HAL has JVs with Rosoboronexport, Aviazapchast and Mikoyan-Gurevich (MiG)  of Russia, British
Aerospace and Rolls Royce Holdings Ltd of UK, Elbit Systems, Israel, Merlin-Hawk and Edgewood
Ventures of the USA, Snecma of France,
Canadian Aerospace as well as Indian firms Tata Technologies, Infotech Enterprises, Samtel
Group and ICICI Bank, among others. These projects are worth billions of US Dollars and serve
defence needs of India and partner countries.

2. Vistara
A great example of Indian Joint Venture with a foreign company is the airline, Vistara, a Full-
Service Carrier.

Vistara is the brand name of Tata SIA Airlines Ltd, a JV between India’s corporate giant Tata
Sons and Singapore Airlines (SIA).

The airline Vistara commenced operations on January 9, 2015, with its maiden flight between
New Delhi and Mumbai. By end of January 2018, Vistara operated some 25 destinations in India.

It also holds the unique distinction of being the first airline to operate a domestic flight out of
Terminal-2 from Mumbai’s Chhatrapati Shivaji International Airport.

Tata Sons holds 51 percent stake while SIA controls the remaining 49 percent in the airline.
Vistara has carried some three million passengers since its launch.

The two stakeholders are pumping in billions of US Dollars into Vistara to expand domestic
operations, foray into international markets and expand its fleet of narrow-body and wide-body
aircraft.

Vistara is one the most successful joint ventures company in India and is estimated to hold about
four to five percent share of India’s domestic aviation market.

3. Tata Global Beverages

Tata Global Beverages, a division of Tata Sons has several JVs in India that produce Fast Moving
Consumer Goods.

These include:

 NourishCo Beverages Ltd: With PepsiCo of USA to produce Himalayan brand of

spring water tapped from sources in Himalaya range, Tata Gluco Plus energy drink and
Tata Water Plus, bottled drinking water fortified with Zinc and Copper.
 Tata Starbucks Pvt.Ltd: With Starbucks Corporation, USA which runs a chain of
Starbucks brand coffee shops across India.

4. BrahMos Aerospace
BrahMos Aerospace made history in 2001 when it tested the world’s fastest cruise missile
capable of flying at supersonic speeds of Mach-2.8 to Mach-3.

The name BrahMos is derived from names of Brahmaputra river of India and Russia’s capital,
Moscow.
India’s entry into supersonic missile club was led by BrahMos Aerospace, a JV between India’s
Defense Research and Development Organization (DRDO) and Russia’s NOP Mashinostoryenia.

BrahMos Aerospace currently makes surface-to-surface, air and sea-launched variants of

BrahMos missiles. The JV is currently developing on creating faster versions of BrahMos versions
that have longer strike range.

The only missile worldwide faster than BrahMos is Russia’s Zircon-5, billed as the world’s fastest
and capable of flying over speed of Mach-5. BrahMos can carry conventional and nuclear
warheads.

5. Bharti-AXA General Insurance Co Ltd

Bharti AXA General Insurance Co Ltd is a JV between India’s leading business group Bharti
Enterprises and insurance major from France, AXA.

This leading insurer in India began operations in August 2008. The company is licensed by the
Insurance Regulatory and Development Authority of India (IRDAI).

Bharti AXA offers a comprehensive range of insurance products ranging from vehicle, health,
travel, home and education, among others. Bharti-AXA General Insurance is among the pioneers
of JV in India’s insurance sector.