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WASHINGTON, June 10 (PTI) – A possible deal between General Electric and Hindustan Aeronautics Ltd to co-manufacture jet engines in India would have implications for the US and Indian defense industries, the head of a top US business advocacy group said. “chain reaction”. explain.
The two companies are expected to announce the deal during and around Prime Minister Narendra Modi’s official state visit to the United States on June 22.
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The two sides have been tight-lipped about it, as industry experts hope the long-awaited agreement will have a major impact on relations between the two countries.
“Both governments are working very hard to reach an agreement. I wish them every success. I hope it passes. I think this will have a knock-on effect on the US and Indian defense industries and most importantly our private sector companies , ” Arthur Keshap, chairman of the US India Business Council (USIBC), told PTI in an interview.
“(It) will unleash more confidence and more deals. That leads to strong defenses, which is deterrence, which means peace and security,” Keshap said.
He stressed that it was very important for the two countries to reach such an agreement.
“I don’t want to reveal my conversations in both governments, but I’ve been told that if this deal goes through, it will affect the US-India defense relationship in a positive way for 40 years,” Keshap said. explain.
“When you consider the size of the engines, there are hundreds of them in India’s advanced multi-role fighter jets. This will involve closer cooperation than we have ever had before and will last for decades as these aircraft will be funded by Indian taxpayers Buy it and expect to fly like we did for 40 years,” he said.
He praised the possible deal.
“Our planes are flying farther and farther as we do avionics upgrades and capability upgrades, weapons systems, engine upgrades. So I think what India is doing or hoping to do is put more powerful, A more powerful engine. We support that,” Kesharp said.
Responding to a question, Keshap said Prime Minister Modi’s government has made great efforts to simplify doing business in India and clean up the regulatory environment and make India a more attractive destination.
“Think about the fact that we are now a solid quartet of partners. The quartet is very important, so such a large investment in the quartet by the United States, India, Japan and Australia is a reflection of how much we trust each other and how much we have to overcome in various areas. A legacy of mistrust.
“When you look at the Quartet, you see military defense, military intelligence, diplomatic engagement, law enforcement and counterterrorism, everything is very strong. Also, scientific cooperation is very, very strong,” he said.
Japan, India, Australia and the United States formed a long-pending proposal in 2017 to create a “quad” or four-way alliance to counter Chinese aggression in the Indo-Pacific region.
According to Keshap, ICET (Initiative on Critical and Emerging Technologies) is as important as the nuclear deal to unleash the next big stage, deep technology and future technology cooperation between the US and India.
“What we’ve learned from this pandemic is that we trust each other and we’re willing to do the most sensitive things with each other when it comes to technology,” he said.
“It also means there are people we don’t trust and we want to keep our channel clean in a high trust ecosystem. So the strategy is good, the economy is picking up, technology is now starting to get serious. This time (Prime Minister to India) The subject of the visit,” he added.
(This is an unedited and auto-generated story from a Syndicated News feed, the body of content may not have been modified or edited by LatestLY staff)
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