Tatas, Boeing JV to make aircraft parts
In a move that could boost ‘Make in India’ initiative, Tata Advanced Systems Limited (TASL), a part of Tata Group, has joined hands with Boeing to set up a joint venture (JV) that will manufacture aircraft parts including aero-structures in India.
Hyderabad: In a move that could boost ‘Make in India’ initiative, Tata Advanced Systems Limited (TASL), a part of Tata Group, has joined hands with Boeing to set up a joint venture (JV) that will manufacture aircraft parts including aero-structures in India.
The two companies which inked an agreement for the JV in Dubai on Monday will also collaborate on integrated systems development opportunities in India. The TASL has a manufacturing facility on the Hyderabad outskirts, where these parts are likely to be made.
Initially, the JV will create a manufacturing centre of excellence to produce aero-structures for the AH-64 Apache helicopter, besides competing for additional manufacturing work packages across Boeing platforms, both commercial and defence.
“This agreement to establish a JV will propel the growth of the Indian aerospace sector by leveraging the world-class competencies of TASL and its supplier eco-system, as well as provide access to India’s world-class manufacturing capability, skilled talent and competitive cost structures,” said S Ramadorai, Chairman, TASL.
Boeing and TASL intend to grow the JV partnership in the future, with a focus on opportunities to collaborate on development and selling of integrated systems.
“This partnership will capitalize on India’s industrial capability, innovation and talent to contribute to Boeing’s long-term competitiveness and position us for future growth in the global marketplace,” stated Chris Chadwick, President and CEO, Boeing Defense, Space & Security.
It is a demonstration of our commitment to further accelerate our partnership with one of the world’s fastest growing economies, he added.
Boeing as a mark of its commitment to the Indian market has doubled its sourcing from India in the last one year and this JV is a clear example of Boeing’s long-term plans, according to Pratyush Kumar, President, Boeing India.