The Indo-UK trade pact will enable civil aerospace and defence major Rolls-Royce to expand its aerospace capabilities in India, said the company’s Chief Executive Tufan Erginbilgic.
Notably, the deal opens up new avenues for collaboration and growth.
The trade pact, officially called the Comprehensive Economic and Trade Agreement (CETA), was signed in London on Thursday in the presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer.
“This (pact) will unlock benefits of job creation, technology development and manufacturing growth,” Erginbilgic said.
The agreement, Erginbilgic said will support Rolls-Royce’s ambition to co-develop power and propulsion technologies with Indian partners.
Speaking on the trade deal, Erginbilgic said: “India is an important market for our business , with over 90 years of partnership with Indian industry and the Indian Government.“
“These agreements will benefit Rolls-Royce and our customers, paving the way for future aerospace growth in India.”
Besides, Rolls-Royce, has had a presence in India since powering the country’s first commercial and military aircraft, employs around 3,000 people across its ecosystem in India — including 2,000 high-skilled engineers supporting global development programmes.
Its operations span Civil Aerospace, Defence, and Power Systems, with digital capabilities and shared services also delivered from India.
The company has two joint ventures and several supply chain partnerships in the country, and has been a strong proponent of ‘Make in India’ since 1956.
Earlier this year, Rolls-Royce announced plans to double its supply chain footprint in India over the next few years.