RIL bags strategic military aviation tie-up with Boeing US aerospace major

India’s one of the richest businessman Mr Mukesh Ambani’s $76 billion Reliance Industries Limited (RIL) has bagged a strategic military aviation tie‐up with the leading US aerospace company, Boeing, in the field of offsets. That means Boeing will be sourcing 30% of its components worth hundreds of crores of rupees from the RIL. Sources in the Defence Ministry confirmed to The Tribune that there was a signed Memorandum of Understanding (MoU) in place between the RIL and nearly $80 billion‐strong Boeing for the defence offsets programmes. Since India’s capability in aerospace manufacturing is poor, it is expected that this tie‐up could lead to capability build-up in the country in either manufacturing or services.


Source: TribuneIndia

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