India`s Godrej Aerospace eyes share of GE engine manufacturing
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India's Godrej Aerospace said on Monday it will pitch to manufacture modules of GE 414 engines and become part of the supply chain to manufacture engines that will power the country's next generation indigenous fighter jets.
Under the deal announced during Prime Minister Narendra Modi's state visit to the U.S. last month, the engines will be made jointly by GE <GE.N> and Hindustan Aeronautics Limited.
The modalities of the deal are still being finalised.
"We will have to study the tie up done between GE and HAL ... How the deal happens and how much technology transfer happens needs to be seen. We will have more clarity in 2-3 months," Maneck Behramkamdin, associate vice president and business head at Godrej Aerospace said during a plant visit.
The company is planning to invest 2.50 billion Indian rupees ($30.26 million) to build a facility in Khalapur in Maharashtra for advanced manufacturing and assembly and integration facilities, Godrej Aerospace said.
The Modi government has been pushing for indigenous manufacturing as well as sourcing local components for aerospace and defence and companies like Airbus and Boeing have recently committed to more local manufacturing and investment.
($1 = 82.6130 Indian rupees)
