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USIBC Hails India’s Landmark $4.1 Billion Purchase of Boeing C-17s

Dépèche transmise le 6 juin 2011 par Business Wire

USIBC Hails India’s Landmark $4.1 Billion Purchase of Boeing C-17s

USIBC Hails India’s Landmark $4.1 Billion Purchase of Boeing C-17s

WASHINGTON--(BUSINESS WIRE)--The U.S.-India Business Council (USIBC) hails India’s decision to purchase 10 Boeing C-17 aircraft, valued at more than $4.1 billion. Once delivered, the Indian Air Force will be the owner and operator of the largest fleet of C-17s outside of the United States.

“U.S. defense sales to India began only a decade ago, at a value of less than $200 million for radar equipment. We have come a long way since then. U.S.-India defense sales today have now crossed the $9 billion mark and continue to grow”

“This is testament to India’s appreciation of U.S. technology and confidence in the United States as a long-term defense sales partner. This largest-ever Indian purchase of U.S. defense technology we hope will be just the beginning of much more to come,” said Ron Somers, President of USIBC.

Boeing, headquartered in Chicago, Illinois, is the aircraft manufacturer of the C-17, which is used for rapid strategic airlift of troops and cargo to main operating bases, and forward-operating bases, throughout the world. It can also perform tactical airlifts, medical evacuation, and airdrop missions. The C-17 can transport large payloads and land on short, rough runways. Boeing reports that each plane supports 650 suppliers across 44 states in the U.S., and that this order will support Boeing’s C-17 production facility in Long Beach, California for an entire year. The transaction is valued at approximately $4.1 billion, all of which is U.S. export content, supporting an estimated 22,160 jobs. The deal comes with an offset requirement valued at $1.2 billion. This offset is to facilitate India’s domestic capability to expand its own defense manufacturing prowess. The government of India’s Cabinet Committee on Security also approved the future purchase of 4 additional C-17s.

“U.S. defense sales to India began only a decade ago, at a value of less than $200 million for radar equipment. We have come a long way since then. U.S.-India defense sales today have now crossed the $9 billion mark and continue to grow,” said Ron Somers, President of USIBC. “U.S. industry wishes to provide India with a host of cutting-edge products and solutions to meet its emerging defense, security, and counterterrorism needs. Overall, we see the United States and India, the world’s largest free-market democracies, forging a deep and lasting strategic partnership, shaping the destiny of the 21st Century.”

The U.S.-India Business Council was founded in 1975 at the request of the Indian and U.S. governments to advance U.S.-India commercial ties. USIBC is the premier business advocacy organization representing nearly 400 U.S. and Indian companies, led by its Chairman, Harold McGraw III, Chairman, President & CEO of The McGraw-Hill Companies.

www.usibc.com.

Business Wire

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