Indian Economy News

Boeing open to investing in India, expands research centre

Mumbai: Boeing is expanding its research centre in Bengaluru and has evinced interest in investing in Indian companies, manufacturing aeronautical components, with a view to bolster its supply chain.

“Investment environment in India is improving. Given that background, we are open to make equity investments,” said Pratyush Kumar, president, Boeing India.

However, at present, Boeing is not engaged in active discussions for an investment in India, he added.

On Saturday, Kumar and Boeing vice-president for research and technology Greg Hyslop, joined heads of aerospace of other Indian companies to unveil the advanced machining excellence cell at the Indian Institute of Technology (IIT), Bombay.

The cell is a part of National Centre for Aerospace Innovation and Research, which is an initiative of the IIT, the government's Department of Science and Technology and Boeing. NCAIR works closely with companies, including DMG Mori, Delcam and Sandvik.  NCAIR has also worked with Larsen & Toubro, Godrej & Boyce, Bharat Forge amongst others on aerospace research projects.

“We are rapidly expanding supply chain in India and also helping create an aerospace eco system,” Kumar added.

Earlier this week Boeing and Tata Advanced Systems Limited signed an agreement to collaborate in aerospace and defence manufacturing. Similarly the US plane maker collaborates with other Indian companies for manufacture of components and parts for its civil and military planes and choppers.

Hyslop and other senior executives from Boeing met government officials and its suppliers in India to explore further collaboration and outsourcing opportunities.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.