Mumbai/ New Delhi: Boeing Co., the Pentagon’s second largest supplier, and the Tata group will start a venture in India to supply more than $500 million (Rs1,985 crore) of defence-related aerospace components to the US firm. The venture will be set up by June, Tata Industries Ltd said in a statement.
The company would initially get contracts from Boeing to make components for planes used by the US Navy and the Royal Australian Air Force.
Boeing, Lockheed Martin Corp. and other overseas defence contractors are partnering with Indian companies ahead of their bids for India’s $11 billion of fighter jets order, the biggest for combat planes in 15 years. The winning bidder must purchase a part of the components from India.
Boeing may form more ventures in the country to expand the base of component suppliers for commercial and defence applications, the firm said. Tata and Boeing also plan to set up a research and development centre for advanced manufacturing technologies.
Boeing has also announced a partnership with Tata group’s TAL Manufacturing Solutions Ltd to make floor beams for the 787 Dreamliner commercial jet.
Gautam Chakravorthy contributed to this story.