Commercial and Defence Investments: As the government in New Delhi implements economic reforms to draw in international investors and strengthen its industrial sector, US aerospace company Boeing plans to make additional investments in India in the commercial and defence sectors.
Brendan Nelson, vice president of Boeing and president of Boeing Global, stated on Sunday that “India is an exciting country, an emerging superpower, it reminds you in some ways of late 19th-century America, it’s a vast market, and now with the reforms that Prime Minister [Narendra] Modi has undertaken, it enables companies like us to increase their investments.”
“We’re also constructing a component and part supply and distribution hub. Right now, we’re working quite closely together. with a few notable Indian enterprises on both commercial and defense-related goods.
He could not provide further details, but stated, “So, certainly we intend to invest a lot more in India to support the country and its aviation sector.”
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Boeing To Expand Commercial and Defence Investments
Boeing currently maintains a joint venture with Indian conglomerate Tata Group and employs 5,500 people in India, with a “very large engineering population.”
The Hyderabad facility has been supplying customers all over the world with fuselages, secondary components, and vertical spar boxes for the Boeing AH-64 Apache helicopter.
According to its website, Boeing has built a new production line to produce intricate vertical fin structures for the 737 series of aircraft.
According to Mr. Nelson, the business also intends to construct a $200 million engineering centre in Bangalore early in the next year.
The proposed investments coincide with record orders for aircraft from Boeing and Airbus placed by Indian carriers.
The Tata Group currently owns Air India, and it is attempting to entice travellers with direct flights to the US and Europe, as opposed to the usual transit through hubs in the Gulf.
