Safran Group chief meets PM Modi, discusses tech partnership
Apr 20, 2023
New Delhi [India], April 20 : The group chairman of Safran, Ross McInnes, called on Prime Minister Narendra Modi to discuss a technological partnership with Safran in defence and space on Wednesday. The French firm is a manufacturer of aircraft and rocket engines, among others.
"Yesterday, Mr. Ross McInnes, the Group Chairman of @SAFRAN called on PM @narendramodi. Fast growing Indian aviation market provides immense scope for companies working in this sector. They also discussed technological partnership with Safran in defence and space," read a post on the Twitter handle of the Prime Minister's Office on Thursday.
In February this year, Safran Helicopter Engines and Hindustan Aeronautics (HAL) signed a workshare agreement for the joint development of the engine intended for the future 13-tonne Indian MultiRole Helicopter (IMRH) and its naval version Deck-Based MultiRole Helicopter (DBMRH), according to a joint statement from both companies.
This agreement was done after the memorandum of understanding signed on July 9, 2022, and stipulates the sharing of activities within the joint venture where both parties have agreed on an equivalent repartition, according to the statement shared with stock exchanges.
According to this MoU signed in February, HAL would take part in the design, development, and production of some of the core engine components, which is a breakthrough achievement in terms of expertise and know-how in the country.
Safran is a French multinational company that designs, develops and manufactures aircraft engines, rocket engines as well as various aerospace and defence-related equipment or their components.
Safran is a French-registered company, listed on NYSE Euronext Paris. An Executive Committee representing the Group's different businesses implements the strategic objectives defined by the board of directors. This governance principle guarantees a balance of power, and ensures Safran's agility to meet the changing requirements of its economic, financial and competitive environment.
