General Electric Nears Jet Engine Co-Manufacturing Deal In India: Report
Portfolio Pulse from Lekha Gupta
General Electric (NYSE:GE) is in final talks with Hindustan Aeronautics Ltd. for a partnership to co-manufacture jet engines in India. The deal is expected to be signed during Indian Prime Minister Narendra Modi's visit to Washington, D.C. this month. GE has received approval from the U.S. government to transfer jet engine manufacturing technology to India.
June 09, 2023 | 2:39 pm
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General Electric is close to finalizing a partnership with Hindustan Aeronautics to co-manufacture jet engines in India, with U.S. government approval for technology transfer.
The partnership with Hindustan Aeronautics and the U.S. government's approval for technology transfer 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 jet engine manufacturing industry.
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