Boeing to bring manufacturing jobs to India

Aerospace giant works with Indian company to produce military hardware.

NEW DELHI - Boeing Co. has tentatively agreed to send as much as $1 billion in aerospace manufacturing work to state-owned Hindustan Aeronautics Ltd. in India over the next 10 years.

Under the agreement announced Thursday, Boeing will share some its key business and manufacturing tools with Hindustan Aeronautics, said Jim Albaugh, president and chief executive of Boeing's defense aerospace business.

The U.S. aircraft maker will help the Indian company in developing manufacturing processes and capabilities needed for the production of military hardware for Boeing and its subcontractors.

 

Hindustan Aeronautics gains "in terms of tech upgrade, while Boeing can look forward to a reliable source for its product requirement," Albaugh told reporters after signing the agreement.

Chicago-based Boeing hopes the agreement will also help meet its obligations under existing or future jet purchase deals with the Indian government, which requires aircraft makers to reinvest in the country a portion of any order they win from state-run companies or agencies.

In 2005, Boeing won an order for 68 airplanes worth $11.4 billion from state-run Air India, and the company is currently in the fray for a large fighter jet contract from the Indian Air Force, which plans to buy 126 new airplanes.

"The agreement represents an important step in our efforts to build solid, long term partnership in India," Albaugh said.

The two companies will explore business opportunities aimed at transferring to India work with an initial value of up to $20 million annually, a Boeing statement said.

The value of the work would increase as its size and complexity grows in the following years, the statement said. It said the work transferred over a 10-year period would be worth at least $1 billion.

source:msnbc.msn.com/id/22340550/

 I heard that last year. But India is emerging as a big 8 country. The sadness is the gap between the rich and poor and overpopulation.

It is so annoying to think what our leaders doing? Why they never think long term and strategically ? Wish some visionery will be born to Nepal also to lure some businesses.

I know our leaders don't have their own policies and agendas.Our so called leaders copies everything from india but why don't they copy the business policies from india. Why don't our leaders don't want to learn and practice something which is good for the country.Nepal is not participating in global economy at all.

Exactly, people are dying for a decent meal of rice in Karnali region, women are dying in their homes for lack of medical help and our leaders are busy fighting among themselves. Sometimes i wish i was invisible like a Spiderman or something and i would just go kill each one of them ...one by one...their family first so that they will suffer the loss...