Prime Minister Narendra Modi and US President Joe Biden are expected to announce a mega defence deal during their upcoming meeting this week in Washington DC.
After the US government gave the go-ahead to General Electric (GE) to transfer jet engine manufacturing technology to India, the two sides reached an in-principle agreement on the deal.
Bharat Forge CMD Baba Kalyani, in an interview with CNBC-TV18, said there is a huge opportunity for small, medium & large sectors that are participating in the prgramme once the deal is inked between GE and Hindustan Aeronautics Limited (HAL).
"When we talk about fighter jets and engines, there are over 300 technologies that are used in making jet engines...I think there is going to be a large space for small, medium and large sectors to participate in this programme because one country alone cannot do everything by itself," he said.
He further added that there will also be a huge horizontal deployment of these technologies coming to India through the transfer of jet engine technology to HAL.
The American defence company will be entering into an agreement with HAL to co-produce jet engines in India. The technology will power India's fighter jet programme once the Memorandum of Understanding (MoU) is operationalised.
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