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☆ ‘A year of volatility’: Morgan Stanley names its top stocks as India prepares to head to the polls
▼ + stars: | 2023-11-28 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

The investment case for India is hard to argue with, according to analysts at Morgan Stanley — but they warn that upcoming elections with "potential binary outcomes sets the market up for volatility." "Government policy remains supportive, and the RBI (Reserve Bank of India) executes a calibrated exit from its current hold stance. For Morgan Stanley, the downside, or bear case, to its forecast would see India's elections result in a change in government. Focus list of overweight-rated stocks Looking ahead to India in 2024, Morgan Stanley is overweight on companies in the financials, consumer discretionary, industrials and technology sectors. From the financial services sector, Morgan Stanley is overweight on ICICI Bank and insurer SBI Life Insurance .

Persons: Morgan Stanley —, Ridham Desai, Narendra Modi, Morgan Stanley, — CNBC's Michael Bloom Organizations: Bombay Stock Exchange, Reserve Bank of India, International Monetary Fund, Maruti Suzuki, Hindustan Aeronautics, Infosys, ICICI Bank, SBI Life Insurance Locations: India, U.S, Government, F2026E

☆ India is a growing defense powerhouse, and now it's looking to cash in on it
▼ + stars: | 2023-10-01 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

But it has been investing heavily in its domestic arms industry with the goal of equipping its own forces and increasing its arms sales around the world. Recent arms sales and exercises illustrate how India seeks to turn that domestic arms production into foreign sales and perhaps even take some of that market away from its biggest supplier. The leaders discussed "defense platforms" and "equipment-related linkages" and deepening cooperation between their militaries and defense industries. (Egypt and India collaborated on development of the Helwan HA-300 light supersonic interceptor in the 1960s, but that project was ultimately canceled.) After all, Indian defense exports in recent years were negligible compared to heavyweights like the US and France, and New Delhi remains heavily reliant on imports.

Persons: —, JEWEL SAMAD, Swathi, Modi, Abdel Fattah al, Egypt's, Abdel Fattah el, Sisi, Narendra Modi, MANJUNATH KIRAN, Paul Iddon Organizations: Service, Getty, Armenia —, Armenia, Indian Press, Anadolu Agency, Indian, Indian Air Force, Tejas, Hindustan Aeronautics Limited Locations: India, New Delhi, Russia, Ukraine, Moscow, Armenia, East, Egypt, France, Cairo, Brahmos, Bangalore, China

☆ India's Aeroflex in talks to enter aerospace sector - executive
▼ + stars: | 2023-09-13 | by ( Hritam Mukherjee | ) www.reuters.com time to read: +2 min

BENGALURU, Sept 13 (Reuters) - India's Aeroflex Industries (AERO.NS), whose metal hoses are used in utilities, refineries and fire fighting equipment, is in talks to enter the aerospace sector, a top company executive said, aiming to capitalise on the country's burgeoning space program. "It is our aim that our products be a part of India's next space mission," Aeroflex Managing Director Asad Daud told Reuters in an interview last week. While HAL and BHEL are existing clients, the ongoing talks are a first for specific space-related projects, he said. Aeroflex expects its total revenue to increase by 35% in the next three to four years, with at least 5% coming from aerospace, Daud said. Aeroflex has three Chinese suppliers that, currently, meet 70%-75% of its needs for their coils.

Persons: Asad Daud, Daud, Aeroflex, Hritam Mukherjee, Dhanya Organizations: Aeroflex Industries, Reuters, Hindustan Aeronautics Ltd, HAL, Electricals, Indian Space Research Organisation, ISRO, Thomson Locations: BENGALURU, India, India's, China, Bengaluru

☆ Biden and Modi to make progress on GE jet engines, nuclear - White House
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden and India's Prime Minister Narendra Modi talk during a meeting with senior officials and CEOs of American and Indian companies in the East Room of the White House in Washington, U.S., June 23, 2023. REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsABOARD AIR FORCE ONE, Sept 7 (Reuters) - The White House expects to see meaningful progress on GE jet engines and civil nuclear technology in upcoming bilateral talks between U.S. President Joe Biden and India Prime Minister Narendra Modi, national security adviser Jake Sullivan told reporters on Thursday. Earlier this year, the aerospace unit of General Electric (GE.N) announced it had signed an agreement with India's state-owned Hindustan Aeronautics (HIAE.NS) to jointly make engines in India to power fighter jets for the Indian Air Force. Reporting by Nandita Bose and Jarrett Renshaw; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Narendra Modi, Evelyn Hockstein, Jake Sullivan, Nandita Bose, Jarrett Renshaw, Sandra Maler Organizations: India's, White, REUTERS, AIR FORCE, GE, U.S, India, General Electric, Hindustan Aeronautics, Indian Air Force, Thomson Locations: Washington , U.S, India

☆ Exclusive: L&T, HAL vetted to bid on India rocket privatisation-source
▼ + stars: | 2023-08-25 | by ( Nivedita Bhattacharjee | ) www.reuters.com time to read: +3 min

BENGALURU, Aug 25 (Reuters) - Larsen & Toubro and Hindustan Aeronautics are among companies vetted to potentially bid in India's efforts to privatise its small satellite launch rocket, a source told Reuters, as the government seeks more investment in the booming space market. The Small Satellite Launch Vehicle (SSLV) was developed by the Indian Space Research Organisation (ISRO), the national space agency, as a low-cost means to launch satellites weighing up to 500 kg (1,102 lb) into low-earth orbit. They serve a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in. India is aiming to increase its share of the global satellite launch market by fivefold within the next decade. Under that contract, the companies will manufacture and deliver five Polar Satellite Launch Vehicles (PSLV) - often called ISRO's "workhorse" rocket.

Persons: Larsen, Narendra Modi, Nivedita, Sharon Singleton Organizations: Toubro, Hindustan Aeronautics, Indian Space Research Organisation, ISRO, SpaceX, HAL, Launch, Indian, Thomson Locations: BENGALURU, India, Bengaluru

☆ 'Stark contrast' to China: Morgan Stanley upgrades India stocks and shares 4 top picks
▼ + stars: | 2023-08-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Morgan Stanley upgraded Indian stocks to "overweight" from "equal weight," citing a strong profit outlook and the country's attractiveness to investors in a "multipolar world." India's situation is in "stark contrast to that in China," the bank said in its Aug. 2 note. Morgan Stanley downgraded Chinese stocks to equal weight in the same note. Stock picks While Indian stock valuations "overshot somewhat" last October, it's "less extreme" now, Morgan Stanley said. Morgan Stanley added two Indian stocks to its focus list: Maruti Suzuki : Morgan Stanley said the automaker is set to benefit from a higher per-capita income in India; an expansion in market share; and an improving product mix.

Persons: Morgan Stanley, capex, Maruti Suzuki, Larsen, Toubro, — CNBC's Michael Bloom Organizations: Maruti, ICICI Bank, Hindustan Aeronautics Locations: China, India, Saudi Arabia

☆ India's Godrej Aerospace eyes share of GE engine manufacturing
▼ + stars: | 2023-07-10 | by ( Dhwani Pandya | ) www.reuters.com time to read: +1 min

MUMBAI, July 10 (Reuters) - 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. "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.

Persons: Narendra Modi's, Modi, Dhwani Pandya, Sethuraman, Himani Sarkar, Raju Gopalakrishnan Organizations: Aerospace, GE, U.S, Hindustan Aeronautics Limited, HAL, Godrej Aerospace, Airbus, Boeing, Dhwani, Thomson Locations: MUMBAI, Khalapur, Maharashtra, Mumbai

☆ Applied Materials to invest $400 million in India for new engineering center
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

June 22 (Reuters) - U.S. semiconductor toolmaker Applied Materials (AMAT.O) will invest $400 million over four years in a new engineering center in India, the company said on Thursday. Indian Prime Minister Narendra Modi had met with the company's CEO Gary Dickerson in Washington on Wednesday and invited Applied to strengthen the chip industry in the country. Modi also met Tesla (TSLA.O) CEO Elon Musk after which the automaker's top boss said the company will try to be in India "as soon as humanly possible." Applied currently operates across six sites in India and works closely with Indian Institute of Science, Bangalore and the Indian Institute of Technology in Mumbai, two of the country's prestigious institutions. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Narendra Modi, Gary Dickerson, Electric's, Modi, Tesla, Elon Musk, Akash Sriram, Anil D'Silva, Sriraj Organizations: Indian, Hindustan Aeronautics Ltd, Indian Institute of Science, Indian Institute of Technology, Thomson Locations: India, Washington, Bengaluru, Bangalore, Mumbai

☆ GE to jointly produce fighter jet engines in India
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] Indian Air Force (IAF) LCA Tejas performs an aerobatic display during the Aero India 2023 air show at Yelahanka air base in Bengaluru, India, February 13, 2023. REUTERS/Samuel Rajkumar/File PhotoJune 22 (Reuters) - General Electric's (GE.N) aerospace unit said on Thursday it has signed an agreement with India's state-owned Hindustan Aeronautics Ltd (HIAE.NS) to make fighter jet engines for the Indian Air Force. The agreement includes the potential joint production of GE Aerospace's F414 engines in India and the engines will be used to power Tejas fighter jets, GE said. Reuters reported in May the Biden administration was poised to sign off on a deal that would allow GE to produce jet engines powering Indian military aircraft. GE first began working with Hindustan Aeronautics and the Aeronautical Development Agency in 1986 to support the development of India's light combat aircraft with F404 engines.

Persons: Samuel Rajkumar, Electric's, Narendra Modi, Biden, Aishwarya Nair, Varun, Shounak Organizations: Indian Air Force, IAF, LCA Tejas, Aero, REUTERS, Hindustan Aeronautics Ltd, Indian, GE Aerospace's, Tejas, GE, Hindustan Aeronautics, Reuters, Aeronautical Development Agency, Thomson Locations: Aero India, Bengaluru, India, United States, Washington

☆ Factbox: Flurry of US-India deals on AI, defense as Biden, Modi meet
▼ + stars: | 2023-06-22 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +4 min

The following is a roundup of the major announcements:VISASThe Biden administration will make it easier for Indians to live and work in the United States. The United States intends to open new consulates in Bengaluru and Ahmedabad. India is opening a new consulate in Seattle this year and will soon announce two new consulates in the United States. The MQ-9Bs will be assembled in India, a joint statement said, and U.S. manufacturer General Atomics will also establish new facility in India. ADVANCED COMPUTINGIndia and the United States established a Joint Indo-U.S. Quantum Coordination Mechanism to facilitate joint research between the public and private sectors across both countries.

Persons: Narendra Modi, Joe Biden, Biden, Katherine Tai, Vikram Solar, Electric's, General Atomics, Atomics, Jarrett Renshaw, Heather Timmons, Grant McCool Organizations: Indian, U.S, The State Department, United, INDIA, Micron Technology, Micron, United States Trade, World Trade Organization, Minerals Security Partnership, European Union, India’s Epsilon Carbon, VSK Energy, JETS, Hindustan Aeronautics Ltd, Indian Air Force, GE Aerospace's, Tejas, GE, Reuters, SPACE, Artemis Accords, NASA, International Space Station, Thomson Locations: Washington, United States, U.S, Bengaluru, Ahmedabad, India, Seattle, Gujarat, US, Colorado, China, SPACE India

☆ Watch live: President Biden and India Prime Minister Modi speak at the White House
▼ + stars: | 2023-06-22 | by ( Emma Kinery | ) www.cnbc.com time to read: +1 min

President Joe Biden and Prime Minister Narendra Modi of India will hold a joint press conference following their bilateral meeting Thursday. Later, Modi will deliver remarks to a joint meeting of Congress before the president and the first lady will host the prime minister for a state dinner at the White House. U.S.-based Micron Technology has committed to open a $2.75 billion semiconductor assembly in India with Micron footing $800 million and the country's government covering the remainder. India is slated to announce an agreement to purchase MQ-9B SeaGuardian drones. Additionally, under a new partnership, General Electric will work with India's Hindustan Aeronautics to jointly build F414 jet engines in India.

Persons: Joe Biden, Narendra Modi, Modi Organizations: White, U.S, Micron Technology, Micron, General, India's Hindustan Aeronautics Locations: India

Mr. Modi agreed to join Mr. Biden in the East Room to meet with journalists and will also address a joint session of Congress in the afternoon. Image The scene on the South Lawn in the morning underscored the rising role of Indian Americans in the United States. Image Mr. Modi suggested the two nations could tackle international challenges in tandem. They considered it a victory that the administration had persuaded Mr. Modi, who famously refuses to hold news conferences, to meet with reporters alongside Mr. Biden, as most major world leaders do when they visit the White House. Credit... Pete Marovich for The New York TimesMr. Biden pointed to the prevalence of Indian Americans in prominent positions.

Persons: Biden, Narendra Modi, Modi, “, ” Mr, ’, Mr, ”, Doug Mills, China’s, Atomics, Biden’s, Alexandria Ocasio, Cortez, “ Modi, Pete Marovich, Kamala Harris, Harris, Harris’s, Erin Schaff, Joshua Bell Organizations: White, “, New York Times, Artemis Accords, International Space Station, General Electric, Hindustan Aeronautics Limited, Boeing, Biden, New York Times “ Equity, United States, ”, Cortez of New York, Twitter, The New York Times, Mr, The New York, Penn Masala, University of Pennsylvania, U.S . Marine Locations: India, United States, Russia, China, U.S, Moscow, Beijing, American, Ukraine, Russian, New York Times India, New Delhi, Cortez of New, portobello, Asian

[1/2] U.S. President Joe Biden and first lady Jill Biden meet India?s Prime Minister Narendra Modi in Washington, U.S., June 21, 2023. In a rare gesture, Modi has agreed to take questions from reporters with Biden at the White House on Thursday. Modi has not conducted a news conference since becoming prime minister nine years ago and his visit has drawn attention to concerns over human rights in India. Washington wants India to be a strategic counterweight to China and sees India as a critical partnership. Biden is under pressure from his fellow Democrats to discuss human rights with Modi.

Persons: Joe Biden, Jill Biden, Narendra Modi, Biden, Modi, Representatives Alexandria Ocasio, Ilhan Omar, Rashida, Cortez, Elon Musk, Musk, Steve Holland, Nandita Bose, Shri Navaratnam, Heather Timmons, Sharon Singleton Organizations: India's Press, REUTERS, Indian, Washington, Oval Office, White, Senior Biden, United, General Electric Co, GE, Hindustan Aeronautics Ltd, U.S . Navy, U.S ., U.S, chipmaker Micron, Representatives, Rights, Wednesday, Tesla, Thomson Locations: Washington , U.S, REUTERS WASHINGTON, U.S, India, Washington, China, United States, Australia, Gujarat, The U.S, backsliding, Cortez, New York

☆ Biden Welcomes Indian Leader With a 21-Gun Salute
▼ + stars: | 2023-06-22 | by ( Mujib Mashal | Karoun Demirjian | ) www.nytimes.com time to read: +8 min

Mr. Biden celebrated India’s rise with a lavish display of friendship marked by marching bands, honor guards and a 21-gun salute on the South Lawn, to be followed by an Oval Office meeting and a gala state dinner. Mr. Modi agreed to join Mr. Biden in the East Room to meet with journalists and will also address a joint session of Congress in the afternoon. Image The scene on the South Lawn in the morning underscored the rising role of Indian Americans in the United States. Image Mr. Modi suggested the two nations could tackle international challenges in tandem. Credit... Pete Marovich for The New York TimesMr. Biden pointed to the prevalence of Indian Americans in prominent positions.

☆ U.S. and India set to announce flurry of deals spanning defense, chips and A.I.
▼ + stars: | 2023-06-22 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +6 min

Mandel Ngan | Afp | Getty ImagesThe U.S. and India are set to announce a slew of defense and technology collaborations on Thursday during Prime Minister Narendra Modi's state visit, U.S. officials said. India has overtaken China as the world's most populous country and is set to become the third-largest economy in the coming years. According to Reuters, Modi has not addressed a single press conference in India since he became prime minister in 2014, making this an extremely rare occasion. India and the U.S. are expected to announce a deal to jointly produce F414 jet engines in India, involving General Electric and Hindustan Aeronautics. Thirdly, the so-called India-U.S. Defense Acceleration Ecosystem will aim to integrate India's growing private sector defense industry with the U.S. defense sector.

Persons: Joe Biden, Jill Biden, Narendra Modi, Mandel Ngan, Narendra Modi's, Modi, Elon, Ray Dalio, we've, Gary Dickerson, Dickerson, Brendan Mullarkey Organizations: India's, White, Afp, Getty, Tesla, Bridgewater Associates, Biden, Reuters, General Electric, Hindustan Aeronautics, U.S, U.S . Defense, Tech, NASA, Indian Space Research, Embassy Locations: Portico, Washington , DC, India, U.S, China, United States, Pakistan, Russia, France, Great Britain, Israel

☆ Why GE plan to make fighter jet engines in India is a big deal
▼ + stars: | 2023-06-22 | by ( Yp Rajesh | ) www.reuters.com time to read: +4 min

GE says it has delivered more than 1,600 F414 engines and they have clocked more than 5 million flight hours. So far, 75 F404 engines have been delivered and another 99 worth $716 million are on order for Tejas Mark 1. Tejas Mark 2, still under development, is a more powerful jet and needs a bigger engine. The GE-HAL deal to co-produce F414 engines in India requires U.S. government and legislative approvals. Full scale production of F414 in India and Tejas Mark 2 is expected only early in the next decade.

Persons: Narendra, INDIA’S, Conor Humphries Organizations: General Electric, Hindustan Aeronautics, Indian Air Force, Indian, GE, U.S . Navy, HAL, Tejas, Aircraft, India's Air Force, New, YP Rajesh, Thomson Locations: DELHI, India, United States, U.S, Sweden, Australia, Kuwait, Brazil, South Korea, Indonesia, New Delhi, Washington, China, Pakistan, Russia, France, Israel

☆ Top tech execs get ready to meet Modi as China's economy falters
▼ + stars: | 2023-06-20 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

Indian Prime Minister Narendra Modi waves to supporters as he arrives at the Lotte New York Palace hotel in New York City, June 20, 2023. As China's economy falters, top U.S. corporate executives are making it a priority to meet Prime Minister Narendra Modi during his state visit to the White House, including Thursday's dinner. The administration is going all out to give the prime minister a close-to-royal welcome," Frank Wisner, former U.S. ambassador to India, told CNBC. China is one of the agenda items when Modi meets with Biden and U.S. executives Thursday and Friday. With China's economy decelerating and political tensions high, corporate America has taken steps to diversify away from the country.

Persons: Narendra Modi, Tim Cook, Sundar Pichai, Satya Nadella, Raj Subramaniam, Frank Wisner, Tony Capuano, Cummins, Jennifer Rumsey, Safiya Ghori, Ahmad, Atomics, Antony Blinken, Xi Jinping, Modi, Biden, Wisner, Elon Musk Organizations: Indian, Lotte New, Lotte New York Palace, White, Apple, Microsoft, FedEx, White House, CNBC, Marriott, Electric, Hindustan Aeronautics, Atlantic Council, Senate Foreign Relations Committee, U.S, Modi, Tesla Locations: Lotte New York, New York City, India, New Delhi, U.S, Delhi, China, America

☆ GE to co-produce military jet engines in India: Sources
▼ + stars: | 2023-06-09 | by ( Seema Mody | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGE to co-produce military jet engines in India: SourcesSeema Mody reporting on GE close to inking a deal to co-produce military engine jets in India with Hindustan Aeronautics.

Persons: Seema Mody Organizations: GE, Hindustan Aeronautics Locations: India

☆ GE nears deal with India's Hindustan Aeronautics to co-manufacture fighter jet engines
▼ + stars: | 2023-06-09 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

General Electric is in final discussions to cement a partnership with India's Hindustan Aeronautics Ltd. to co-manufacture jet engines in the country, CNBC has learned. Earlier this week, U.S. Defense Secretary Lloyd Austin visited India and discussed the jet engine deal with Indian officials, sources told CNBC. The nature of the agreement — whether it will be labeled a partnership, joint venture or co-assembly — still remains to be seen. The potential GE deal comes as India's economy has grown exponentially, drawing more interest from corporate giants like Apple , Google and Amazon . "We certainly see a lot of activity brewing in India," GE CEO Larry Culp told CNBC in late April, weeks after Air India placed a massive order for more than 800 GE LEAP engines.

Persons: Cope, Narendra Modi, Lloyd Austin, Richard Rossow, India —, Daniel Silverberg, Tim Cook, Modi, Silverberg, Larry Culp Organizations: Indian Air Force, IAF, Tejas, The United States Air Force, USAF, General, India's Hindustan Aeronautics Ltd, CNBC, Indian, Washington , D.C, . Defense, GE, U.S . State Department, Capitol, State Department, Pentagon, Center for Strategic, International Studies, Washington, Capstone, Apple, Google, GE Aerospace, Air India Locations: Kalaikunda, India's West Bengal, Washington ,, India, U.S, Russia, Asia, China

The White House, which said in January that it had received the application to jointly produce the engines in India, declined to comment. Washington maintains strict controls over what domestic military technology can be shared or sold to other countries. India is keen to get the know-how to make aircraft engines. Though it can manufacture fighter jets domestically, it lacks the ability to produce engines to power them. However, India intends to produce more than 350 fighter jets for its air force and navy over the next two decades, which could be powered by the GE 414.

Persons: Biden, Joe Biden, Narendra Modi, Trevor Hunnicutt, Krishn Kaushik, Rajesh Kumar Singh, Heather Timmons, Jamie Freed Organizations: WASHINGTON, General Electric Co, Indian, GE, Hindustan Aeronautics Ltd, HAL, U.S . Congress, Thomson Locations: DELHI, India, Washington, Russia, New Delhi, Ukraine, India's, United States, Chicago

☆ Indian shares rise on easing global banking concerns
▼ + stars: | 2023-03-17 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, March 17 (Reuters) - Indian shares advanced on Friday, aided by financials, tracking a rebound in global equities after a slew of measures to support the global banking system eased worries about a crisis in the financial sector. While the developments eased immediate concerns of a crisis in the global banking system, some analysts remained cautious. "The Fed needs to manage a delicate balancing act between price stability (inflation) and financial stability (growth) in next week's meeting." Information technology stocks (.NIFTYIT) rose over 1% with all 10 constituents logging gains. ($1 = 82.5870 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil and Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ India's HAL in talks on Tejas fighter jet exports, faces Malaysia setback
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

He said in Malaysia there had been a "slight setback" amid stiff competition with a Korean rival. "We have not received anything in black and white, but we are hearing that Koreans will get the order," Ananthakrishnan said. HAL is also in talks with the Philippines to sell its light-combat helicopters, he added. HAL is targeting export sales of 25 billion Indian rupees ($302.15 million) over the next few years, its director of operations Jayadeva EP told Reuters. The Tejas has been beset by design and other challenges, and was once rejected by the Indian Navy as too heavy.

BENGALURU, Feb 13 (Reuters) - India wants to more than triple annual defence exports to $5 billion by 2024/25 from $1.5 billion currently as it looks to ramp up domestic manufacturing, Prime Minister Narendra Modi said on Monday while inaugurating the Aero India show. "Today, India is not just a market for defence companies, it is also a potential defence partner," Modi said in his speech at the show. "I call on India's private sector to invest more and more in the country's defence sector." India, for decades one of the world's biggest importers of defence equipment, now exports to 75 countries, he added. India's airlines are also expanding, with Tata Group's Air India expected to announce a potentially record deal to buy nearly 500 jets from Airbus and Boeing, worth more than $100 billion at list prices.

☆ Airbus pledges deeper industrial ties with India
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +3 min

[1/2] A Airbus A350 aircraft during a display at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter CziborraPARIS, Dec 21 (Reuters) - Airbus (AIR.PA) plans to deepen its industrial presence in India, Chief Executive Guillaume Faury said on Wednesday after meeting the country's prime minister. Faury's comments on industrial presence come as India is increasingly involved in the civil supply chain. Airbus declined to comment and Tata Group was not immediately available to comment. In October, Tata Group and Airbus said they would make the C-295 military transport aircraft in India.

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