Godrej Aerospace Plans To Pitch For Manufacturing General Electric's GE414 Engines In India: Report

India's Godrej Aerospace is reportedly eyeing a share in General Electric Company's GE aerospace unit's GE414 engine manufacturing operations.

Godrej Aerospace plans to pitch to manufacture modules of GE Aerospace's GE414 engines, play a role in the supply chain, and boost the production of next-generation indigenous fighter jets, Reuters reported.

Godrej Aerospace is planning to invest 2.50 billion Indian rupees ($30.26 million) to build a facility in Khalapur in Maharashtra for advanced manufacturing and assembly and integration facilities, the report added.

The modalities of the deal are still being finalized, the report noted.

On Jun. 22, 2023, GE Aerospace signed a Memorandum of Understanding (MOU) with Hindustan Aeronautics Limited (HAL) to produce fighter jet engines for the Indian Air Force.

The move comes amidst Indian Prime Minister Narendra Modi's latest official state visit to the U.S.

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GE's F414 features the latest cost-effective technologies to enhance the engine to power front-line fighters for armed forces around the globe. For more than 30 years, the U.S. Navy has depended on F414 power.

"We will have to study the tie up done between GE and HAL ... How the deal happens and how much technology transfer happens needs to be seen. We will have more clarity in 2-3 months," Maneck Behramkamdin, associate vice president and business head at Godrej Aerospace, said during a plant visit, as noted by Reuters.

Price Action: GE shares are trading higher by 0.18% to $108.38 in the premarket session on the last check Monday.