GE Cleared For Takeoff: US Reportedly Greenlights Jet Engine Tech Transfer To India
Portfolio Pulse from Arpit Nayak
The US government has approved General Electric's (NYSE:GE) transfer of jet engine manufacturing technology to India. GE will collaborate with Hindustan Aeronautics Limited (HAL) to co-produce jet engines for India's fighter jet program. The final agreement is expected to be signed during Indian Prime Minister Narendra Modi's visit to the US.
June 07, 2023 | 12:55 pm
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General Electric has received US government approval to transfer jet engine manufacturing technology to India, partnering with Hindustan Aeronautics Limited.
The approval of the technology transfer and the partnership with HAL will likely have a positive impact on GE's stock price in the short term. The deal expands GE's presence in the Indian market and strengthens its position in the global jet engine industry. Additionally, the collaboration with a government-owned company like HAL could lead to further opportunities in the Indian defense sector.
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