Boeing says plans to build on existing investments in India
Add BT as a preferred source
PLANEMAKER Boeing plans to build on its existing investments in India in areas such as defence supply chains and manufacturing, the company said on Wednesday (Aug 24).
The world’s second-largest planemaker is offering its F/A-18 fighter jet for sale to India’s armed forces and said the selection of the jet would help boost investments in the country’s defence industry.
“Boeing anticipates US$3.6 billion in economic impact to the Indian aerospace and defence industry over the next 10 years, with the F/A-18 Super Hornet as India’s next carrier-based fighter,” the company said in a statement.
The company is yet to secure an order for the jet from the Indian navy.
India is 1 of world’s largest arms importers, spending US$12.4 billion between 2018 and 2021, the SIPRI Arms Transfers Database shows.
Prime Minister Narendra Modi’s government is looking to domestic firms and eastern European nations for military gear and ammunition and has identified 25.15 billion rupees (S$439.6 million) worth of defence equipment it wants domestic firms to manufacture in 2022, Reuters reported earlier this year. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
ComfortDelGro’s Zig to buy S$10 million worth of BYD cars for private-hire fleet
Singapore telco price war squeezes earnings, strengthens case for StarHub-M1 deal, say analysts
Sats slides 13.6% as investors dump shares on profit-margin squeeze
When every phone becomes a satellite phone, what happens to Asia’s telcos?
