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Rolls-Royce plans to make India its third home market outside the UK, and is preparing for major investments in jet engines, naval propulsion and advanced engineering. According to Shashi Mukundan, Executive Vice President of Rolls-Royce India, the brand is preparing to make a huge investment in India. However, the investment figures have not been revealed yet.
New Delhi. British aero-engine maker Rolls-Royce on Sunday said it is planning to make India its third “home market” outside the UK. The company aims to unlock the full potential of opportunities in many areas such as jet engines, naval propulsion, land systems and advanced engineering. In an interview to PTI, Rolls-Royce India Executive Vice President Shashi Mukundan said that the company is planning “big investments” in India. He called it a priority to develop next generation aero engines in India, which will power the fighter planes being built under New Delhi's Advanced Medium Combat Aircraft (AMCA) programme.
Mukundan also said that Rolls-Royce can also make an important contribution in electric propulsion technology to increase the combat capability of the Indian Navy. He suggested that the AMCA engine could be converted into a naval marine engine and could also be used for electric propulsion. He also said that Rolls-Royce is one of the few engine manufacturers in the world that has the capability to “marinize aero engines”.
Preparation for big investment in India
Without giving further details, Mukundan said that Rolls-Royce is thinking of making big investments for its expansion in India. He said India has “scale, policy clarity and a strong drive to rapidly scale up a defense and industrial ecosystem” that is constantly evolving and refining.
Awaiting investment figures
He further said, “If everything goes well, this will be a big investment. So big that people will notice it, but I don't want to give any figures. What really matters is the impact of this investment, which will develop the entire value chain and ecosystem in all the areas of our work here.” A top Rolls-Royce official said that the company will sign two memoranda of understanding (MoU) with two defense public sector undertakings in India. One of these agreements is for manufacturing engines for Arjun tanks, while the other is for engines for future combat vehicles.
Business Roundtable with PM Modi
Mukundan also said that in October, CEO Tufan Erginbilgic told Prime Minister Narendra Modi during a business roundtable that India was going to be very important for Rolls-Royce going forward. “We have developed two other home markets outside the UK – the US and Germany. Now we want to make India our next home market. This means we want to work across every sector, and it is not just limited to defence.”