Raytheon and Lockheed Martin's Javelin Joint Venture team has signed a letter of intent with India's Tata Power Company to explore development of the Javelin missile, Raytheon announced Wednesday.

The signing will lead to an exploration of co-development and production of the Javelin anti-armor missile system with Tata's Strategic Engineering Division, Raytheon said in a statement.

The deal would reinforce the country's "Make in India" initiative.

As part of the letter of intent, the Javelin team and Tata will create a strategy to co-develop and produce the Javelin system while integrating platform mounts to meet Indian requirements.

This included ground combat vehicle, dismounted infantry and rotorcraft applications, Raytheon said.

The letter of intent also establishes a framework for future technological cooperation between the joint venture team and Tata.

Javelin is a compact, lightweight missile designed for one-soldier operation in all environments.

Made by the Javelin Joint Venture, the missile system is fielded by the U.S. Army, the U.S. Marine Corps and has been approved for 15 foreign military sales customers.