Procurement of drones will strengthen India's aerospace, defence ecosystems: Indian billionaire businessman lauds PM Modi's US visit

New Delhi [India], June 24 : Baba Kalyani, Chairman and MD of Bharat Forge Limited and founding president of the Society of Indian Defence Manufacturers has hailed Prime Minister Narendra Modi and US President Joe Biden for emphasising on co-production of critical systems and platforms "identifying avenues for joint research and development in advanced technologies."

Kalyani termed the PM Modi's US visit, a reflection of "strengthening engagement between two great and large democracies."

He said, "Historic state visit being accorded to PM Modi by US President Joe Biden is reflective of strengthening engagement between two great and large democracies, to scale up the Indian market and its requirements, combined with our overlapping strategic interest, create both an opportunity and imperative for businesses on either side...to expand bilateral trade & commerce, to strengthen engagement including strategic sectors such as defence, space, 5G, semi-conductor amongst others and collaborate to co-develop critical and emerging technologies."

The Indian billionaire businessman also thanked PM Modi and President Biden for "placing special emphasis on promoting industry, start-ups and academia linkages on either side encouraging co-development and coproduction of critical systems and platforms identifying avenues for joint research and development in advanced technologies."

He also welcomed the news around the manufacturing and assembling of the General Electric-F414 engine for LCA (Light Combat Aircraft) and also the phased procurement of General Atomics Predator MQ -9 Reaper guardian Drones.

"I believe these programs will go a long way in strengthening the aerospace and defence ecosystems in India," he said.

Such important discussions that have taken place in Washington, will help the Indian industry and Indian defence industry to get into the supply chain of the US defence sector, he added.

Chairman and MD of Bharat Forge also hailed the discussions on green initiatives, strategic clean energy partnership.

"There's a new task force that is going to be set up through SCEP (Simple Certificate Enrollment Protocol) launch of the US India New and Emerging Renewable Energy Technologies Action Platform, which will accelerate cooperation, green hydrogen, offshore and onshore wind, amongst other technologies," he said.

Kalyani also noted that PM Modi's US visit has "created a position for India on the high table of global commerce."

He also said that the relationship between the legal relationship between India and the United States is going to be of great benefit to the Indian economy and to the Indian industry.

Earlier on Friday, PM Modi said that the decision of General Electric Company (GE) to manufacture fighter planes in India will prove to be a milestone for India's defence sector, as both nations are taking strong steps towards a better future through their cooperation.

During his address to the Indian diaspora at the Ronald Reagan Building in Washington, DC, PM Modi said, "In these 3 days, a new and glorious journey of India and the US relations has begun. This new journey is of our convergence on global strategic issues, of our cooperation for Make in India Make for the World."

In a major announcement coinciding with Prime Minister Narendra Modi's visit to the United States, GE Aerospace on Thursday announced that it has signed a Memorandum of Understanding (MoU) with Hindustan Aeronautics Limited (HAL) to produce fighter jet engines for the Indian Air Force.

The agreement includes the potential joint production of GE Aerospace's F414 engines in India.

GE Aerospace said in a release that it continues to work with the US government to receive the necessary export authorization for this. The effort is part of the Indian Air Force's Light Combat Aircraft Mk2 programme.

The US company said that the MoU with HAL to produce fighter jet engines for IAF is a major milestone amidst PM Modi's official state visit to the United States and a key element in strengthening defence cooperation between the two countries.

The announcement about the MoU came ahead of PM Modi's bilateral talks with US President Joe Biden on Thursday.