General Electric and Hindustan Aeronautics Ltd. have agreed to build fighter jet engines for India's air force and navy—a high point of Prime Minister Narendra Modi's U.S. visit that signifies deepening military ties between the two countries.
The memorandum of understanding includes the potential joint production of GE Aerospace's F414 engines in India, and GE Aerospace continues to work with the U.S. government to receive the necessary export authorisation for this, according to its statement.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The effort is part of HAL's indigenously developed Mk2 light combat aircraft and fifth-generation advanced medium combat aircraft—AMCA—programmes. The deal needs the approval of the U.S. Congress as it requires technology transfer.
The announcement strengthens India-U.S. military cooperation as China grows more assertive. And it dovetails with PM Modi's make-in-India push to reduce imports by the world's largest buyers of defence equipment.
"This is a historic agreement made possible by our longstanding partnership with India and HAL," said H. Lawrence Culp, Jr., chairman and chief executive officer of GE and CEO of GE Aerospace, in the statement. "We are proud to play a role in advancing President Biden and Prime Minister Modi's vision of closer coordination between the two nations."
The agreement will advance GE Aerospace's earlier commitment to build 99 engines for the Indian Air Force as part of the LCA Mk2 programme, the statement said.
The Biden administration approved the partnership even as India maintained its close ties with Russia and ramped up crude imports despite Western sanctions on Moscow after the invasion of Ukraine.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.