General Electric Co (NYSE:GE) is reportedly in final talks with Hindustan Aeronautics Ltd. regarding a partnership for co-manufacturing jet engines in India.
The deal is expected to be inked either before or during a visit by Indian Prime Minister Narendra Modi to Washington, D.C., later this month, CNBC reported.
The deal will offer Hindustan Aeronautics access to GE’s F414 engine, the report noted, citing people familiar with the matter.
The jet engines are expected to be utilized in fighter jets for India.
This week, the U.S. government has reportedly given General Electric the green light to transfer jet engine manufacturing technology to India.
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Price Action: GE shares are trading lower by 0.40% at $105.68 on the last check Friday.
