India close to signing $1 billion deal with US company for fighter jet engines
India is close to signing a new billion-dollar deal with General Electric Co. for fighter jet engines that will power locally manufactured light combat aircraft.
Hindustan Aeronautics Ltd. is in advanced stages of negotiations with the American company to buy 113 more GE-404 engines, ANI reported on Tuesday, citing unnamed defence officials. The deal, which is likely to be finalised by September, is in addition to a previous order for 99 GE-404 engines. GE has to supply two engines per month to fulfil its commitment. Additionally, HAL is negotiating 80% transfer of technology for these powertrains.
