Defence

India likely to produce next generation fighter jets in a pvt sector-led JV

India is likely to produce its next generation of fighter jets in a private sector-led joint venture, which could require investments of over Rs 2,500 crore from the selected company but would catapult it into a select league capable of manufacturing cutting edge aeronautical systems.

India’s leading aero manufacturer, state-owned Hindustan Aeronautics Ltd (HAL) is currently working out the costs involved and the structure of the planned JV for the production of the fifth generation Advanced Multirole Combat Aircraft (AMCA), with an ambitious target for 2028.

HAL chairperson R Madhavan told ET that the preferential model is to give the private sector a controlling stake in the joint venture and the option to take existing manufacturing infrastructure on lease to keep capital investment at a minimal.

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