6/9, 3:55 PM (Source: TeleTrader)
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GE reportedly close to fighter jet engine deal with India

General Electric Company and Hindustan Aeronautics Limited from India are nearing an agreement centered on joint jet engine production, CNBC reported on Friday, citing two unidentified sources with knowledge about the deal.

Under the potential agreement, GE's F414 engine would be manufactured in India and used to power the country's air force aircraft, the insiders claimed.

India's Prime Minister Narendra Modi is set to travel to the United States later this month and the deal could be officially signed either before or during his visit, according to the report.

Baha Breaking News (BBN) / MS