financetom
Business
financetom
/
Business
/
India in talks with US to buy combat vehicles, seal fighter jet engine deal as Modi visits, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
India in talks with US to buy combat vehicles, seal fighter jet engine deal as Modi visits, sources say
Feb 9, 2025 11:39 PM

*

Modi visits Washington on Wednesday and Thursday

*

Trump wants India to buy more U.S.-made security equipment

*

Modi says defence, technology, trade and energy ties in

focus

(Adds Modi quotes in paragraphs 3-4, Modi prepares additional

tariff cuts paragraph 5)

By Shivam Patel

NEW DELHI, Feb 10 (Reuters) - India is in talks with the

United States for the purchase and co-production of combat

vehicles as well as finalising a fighter jet engine deal, people

familiar with the matter said, as Prime Minister Narendra Modi

meets President Donald Trump this week.

The world's biggest arms importer, India traditionally

relies mainly on Russia. Last month, Trump asked Modi, who heads

to Washington on Wednesday for a two-day visit, to buy more

U.S.-made security equipment and move "toward a fair trading

relationship".

"I look forward to meeting my friend, President Trump," Modi

said in a statement on Monday before leaving for France and the

United States.

"This visit will be an opportunity to build upon the

successes of our collaboration in his first term and develop an

agenda to further elevate and deepen our partnership, including

in the areas of technology, trade, defence, energy, and supply

chain resilience."

Modi is preparing additional tariff cuts ahead of his

meeting with Trump that could boost American exports to India

and avoid a potential trade war, government officials said.

India and the United States have been in protracted talks

over the co-production of Stryker combat vehicles made by

General Dynamics ( GD ) and also used by the U.S. Army.

They are also working to wrap up contract talks on

co-production of fighter jet engines in India for the Indian Air

Force, a deal agreed in 2023, said two sources who sought

anonymity as they were not authorised to tall to the media.

"We certainly wish to expedite the transaction which we

would like to have with the United States," Defence Production

Secretary Sanjeev Kumar told reporters on Sunday, adding that

such efforts were underway. But he did not elaborate.

Officials of India's state-owned Hindustan Aeronautics Ltd

(HAL) are set to meet in coming weeks with U.S.

officials and the aerospace unit of General Electric ( GE ),

maker of GE-414 engines, for talks to finalise the deal by

March, the sources said.

GE, HAL, General Dynamics ( GD ), the U.S. embassy in New Delhi and

Indian defence and foreign ministries did not immediately

respond to requests for comment.

New Delhi has started talks with the Trump administration on

a plan to buy Stryker vehicles after they were demonstrated late

last year for the Indian Army, two other sources said, also

speaking on condition of anonymity.

The plan envisages that India will acquire a few hundred

Strykers with a mounted anti-tank guided missile system, they

added, and later co-produce them through a state-run firm, the

sources said.

It was not immediately clear if the two potential deals

would feature in talks between Modi and Trump, whose warning on

Sunday that he would introduce new 25% tariffs on all steel and

aluminium imports into the United States could also hurt Indian

companies.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Getty Images Unit Plans Private Offering of $628.4 Million Notes
Getty Images Unit Plans Private Offering of $628.4 Million Notes
Sep 29, 2025
09:14 AM EDT, 09/29/2025 (MT Newswires) -- Getty Images Holdings ( GETY ) said Monday that its indirect unit Getty Images Inc. plans a private offering of $628.4 million of senior secured notes due 2030. The company said an escrow account will hold an amount equal to the gross proceeds. Upon release from escrow, Getty Images ( GETY ) and...
Medtronic Completes $1.76 Billion Bond Offering to Refinance 2025 Debt
Medtronic Completes $1.76 Billion Bond Offering to Refinance 2025 Debt
Sep 29, 2025
09:14 AM EDT, 09/29/2025 (MT Newswires) -- Medtronic ( MDT ) said Monday that its wholly-owned indirect subsidiary has completed a 1.5 billion euros ($1.76 billion) public bond offering, issuing 750 million euros of 2.95% senior notes due 2030 and 750 million euros of 4.2% senior notes due 2045. The company said all obligations under the notes are fully and...
Algoma Steel Says Secured C$500 Million Liquidity Support from Governments of Canada and Ontario
Algoma Steel Says Secured C$500 Million Liquidity Support from Governments of Canada and Ontario
Sep 29, 2025
09:13 AM EDT, 09/29/2025 (MT Newswires) -- Algoma Steel Group Inc. ( ASTL ) announced Monday the execution of binding term sheets to secure C$500 million in liquidity support, comprising C$400 million loan facilities from the Government of Canada under the Large Enterprise Tariff Loan facility and C$100 million loan facilities from the Province of Ontario amid ongoing uncertainty around...
Factbox-More companies adopt co-CEO structure
Factbox-More companies adopt co-CEO structure
Sep 29, 2025
(Reuters) -Companies are increasingly opting for a co-CEO structure as their operations become expansive, diverse and complicated. Among the high-profile firms, Oracle and Netflix ( NFLX ) have joint CEOs running their business operations. Below is a list of companies that have adopted such a structure: COMCAST ( CMCSA ) The media and telecom major appointed Michael Cavanagh as its...
Copyright 2023-2026 - www.financetom.com All Rights Reserved