HAL

Feb 12 (Reuters) -

• INDIA GOVERNMENT: INKS RS 23.12 BILLION RUPEE CONTRACT WITH HINDUSTAN AERONAUTICS FOR EIGHT DORNIER 228 AIRCRAFT

Further company coverage: HIAE.NS

(([email protected];))

Feb 5 (Reuters) - Hindustan Aeronautics Ltd HIAE.NS:

• CLARIFICATION REGARDING LCA MK1A DELIVERIES

• CONFIRMS FIVE AIRCRAFT READY FOR DELIVERY

• NINE ADDITIONAL AIRCRAFT AWAITING GE ENGINES FOR DELIVERY

• RECEIVED FIVE ENGINES FROM GE; SUPPLY POSITION POSITIVE

• ASSURES MEETING GUIDANCE FOR CURRENT FINANCIAL YEAR

• ALL DESIGN AND DEVELOPMENT ISSUES IDENTIFIED ARE BEING ADDRESSED IN AN EXPEDITED MANNER

• IS IN ACTIVE DISCUSSIONS WITH INDIAN AIR FORCE TO DELIVER AIRCRAFT AT EARLIEST

Source text: ID:nBSE6N4XJB

Further company coverage: HIAE.NS

(([email protected];))

Feb 4 (Reuters) - Hindustan Aeronautics Ltd HIAE.NS:

• CANNOT COMMENT ON AMCA PROGRAMME REPORTS

• HAL HAS NOT RECEIVED ANY OFFICIAL COMMUNICATION IN THIS REGARD

Source text: ID:nBSEbjmMYg

Further company coverage: HIAE.NS

(([email protected];;))

Jan 29 (Reuters) - Hindustan Aeronautics Ltd HIAE.NS:

• HAL - CONTRACT SIGNED FOR SUPPLY OF 10 DHRUV NG HELICOPTERS

• HAL - CONTRACT VALUE EXCEEDS 18 BILLION RUPEES

Source text: ID:nBSEGGxfJ

Further company coverage: HIAE.NS

(([email protected];))

Nov 21 (Reuters) - GE GE.N Aerospace is prepared to support the investigation into what caused a crash of a Indian home-produced Tejas fighter jet at the Dubai Airshow, a spokesperson for the company said on Friday.

It was the second known crash of the fighter jet, which is built by state-owned Hindustan Aeronautics Ltd HIAE.NS and powered by General Electric engines.

(Reporting by Aditi Shah in New Delhi and Hritam Mukherjee in Bengaluru; Editing by Anil D'Silva)

(([email protected]; X: @MukherjeeHritam;))

Nov 12 (Reuters) - Hindustan Aeronautics Ltd HIAE.NS:

• Q2 CONSOL NET PROFIT 16.69 BILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 66.29 BILLION RUPEES

Source text: ID:nBSE5WP0wb

Further company coverage: HIAE.NS

(([email protected];))

NEW DELHI, Sept 25 (Reuters) - India has signed a deal worth 623.70 billion rupees ($7.03 billion) with Hindustan Aeronautics Ltd HIAE.NS for Tejas Mk-1A fighter aircraft for the Indian Air Force, the defence ministry said in a statement on X on Thursday.

($1 = 88.6880 Indian rupees)

(Reporting by Hritam Mukherjee; Editing by YP Rajesh)

(([email protected]; X: @MukherjeeHritam;))

** Shares of Hindustan Aeronautics HIAE.NS rise 2% to 4,541 rupees after tech transfer pact

** Indian space agency ISRO, commercial arm NSIL and regulator IN-SPACe enable HAL to manufacture Small Satellite Launch Vehicle

** SSLV can carry 500kg payload to low-Earth orbit for communication, earth observation uses

** HAL gets autonomy to build, own, operate launch vehicle; 2-yr tech absorption, then 10-yr production phase

** 18 analysts have a "buy" rating on avg, median PT is 5,800 rupees - data compiled by LSEG

** Stock up nearly 9% YTD

(Reporting by Urvi Dugar)

(([email protected];))

NEW DELHI, Sept 5 (Reuters) - India could build its third aircraft carrier, to be nuclear-powered, as part of a 15-year defence modernisation plan announced on Friday that also includes the use of Indian-made fighter jets by the navy for the first time.

Bordered by strategic rivals China and Pakistan, both of whom India has clashed with in deadly fights in recent years, New Delhi is increasingly leaning on domestic defence companies to bolster capabilities and cut dependence on foreign suppliers such as Russia, France and the United States.

"As the nation stands on the threshold of embracing greater challenges and responsibilities in the forthcoming decades, it is but imperative that the Services be equipped accordingly," said the defence ministry's 2025 roadmap.

"Greater private-public sector partnership is thus the road ahead."

India currently operates two aircraft carriers, one of Russian origin and the other home-built. The proposed carrier is expected to be nuclear-powered, a first for India, for longer reach and stealthier operations.

The document outlines the need for at least 10 nuclear propulsion systems to support the carrier and other future warships, underscoring India's ambition to expand its strategic reach across the Indian Ocean.

India also plans to induct an unspecified number of new-generation twin-engine, deck-based fighters and light combat aircraft, both being developed by state-owned Hindustan Aeronautics Ltd HIAE.NS for the navy.

In April, India signed a deal with France worth 630 billion rupees (about $8 billion) for 26 Rafale-Marine twin and single-seat jets, made by Dassault Aviation AM.PA, to be deployed on its two carriers: INS Vikrant and INS Vikramaditya.

India hopes to have 62 Rafale jets in service by 2030, including 36 for the air force that started arriving in 2020. Currently, the carriers deploy a fleet of Soviet-origin MiG-29K.

The roadmap also anticipates procuring two electromagnetic aircraft launch systems, developed for the U.S. Navy to launch aircraft from carriers using electromagnetic forces instead of traditional steam catapults.

It also places a big emphasis on drones that played a key role in a May military conflict with arch-enemy Pakistan.

India has budgeted spending of about 6.81 trillion rupees ($77 billion) on defence this fiscal year. It is the world's fourth biggest defence spender after the United States, China and Russia, according to World Bank data.

(Reporting by Shivam Patel and Krishna N. Das in New Delhi; Editing by Ros Russell)

(([email protected]; https://x.com/krishnadasassam;))

-- Source link: https://tinyurl.com/5942e8z3

-- Note: Reuters has not verified this story and does not vouch for its accuracy

((Bengaluru newsroom, [email protected]))

** Shares of Hindustan Aeronautics HIAE.NS rise nearly 1% to 4,506 rupees

** Wins order for 97 fighter jets from govt; biggest on record worth 670 bln rupees ($7.66 bln) - CLSA

** CLSA ("outperform", 5,436 rupees PT) says HAL biggest beneficiary of government's 'Make in India' push with large growth pipeline

** Notes HAL deserves premium over global aerospace peers due to pipeline, market access; has virtual monopoly in high entry barrier industry

** On avg, stock rated "buy" by 18 analysts; median PT at 5,800 rupees - data compiled by LSEG

** Stock up nearly 8% YTD

($1 = 87.4200 Indian rupees)

(Reporting by Komal Salecha)

(([email protected];))

Aug 21 (Reuters) - Hindustan Aeronautics Ltd HIAE.NS:

• MINISTRY OF DEFENCE APPROVED PROPOSAL FOR PROCUREMENT OF 97 AIRCRAFT FROM CO

Source text: ID:nBSE2Dj4G8

Further company coverage: HIAE.NS

(([email protected];;))

** Hindustan Aeronautics (HAL) HIAE.NS rises 2.1% to 4,545 rupees

** Government approves order for 97 fighter jets worth 620 bln rupees ($7.12 bln) from HAL, local media reports, citing sources

** HAL did not immediately respond to Reuters' request for comment

** HIAE gains ~9% YTD

($1 = 87.1260 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Hindustan Aeronautics HIAE.NS rise about 3% to 4538 rupees apiece

** State-run aerospace manufacturer reports 11% rise in consolidated June-quarter revenue

** Nomura keeps "buy" rating, citing strong order book, defence indigenization, and R&D focus

** CLSA reiterates "outperform," highlighting gains due to $12 billion order execution under Prime Minister Narendra Modi's third term

** Sees large fighter aircraft order in 2025 and GE engine deal visibility as near-term catalysts

** CLSA says HIAE justifiably trades at a premium to global peers given Make-in-India pipeline and market access

** The average rating of 17 analysts tracking HIAE is "buy", the median price target is 5650 rupees, 28% above the last close, data compiled by LSEG shows

** HIAE shares are up 11.7% in 2025 so far, outperforming the 0.9% uptick in the Nifty PSE index .NIFTYPSE, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Aug 12 (Reuters) - Hindustan Aeronautics Ltd HIAE.NS:

• HINDUSTAN AERONAUTICS Q1 CONSOL NET PROFIT 13.84 BILLION RUPEES

• HINDUSTAN AERONAUTICS Q1 CONSOL REVENUE FROM OPERATIONS 48.19 BILLION RUPEES

Source text: [ID:]

Further company coverage: HIAE.NS

(([email protected];))

July 17 (Reuters) - Hindustan Aeronautics Ltd HIAE.NS:

• INDIA GOVERNMENT - HINDUSTAN AERONAUTICS GETS FIRST SET OF WING ASSEMBLIES FOR LIGHT COMBAT AIRCRAFT MK1A FROM L&T

Source text: [ID:]

Further company coverage: HIAE.NS

(([email protected];;))

** Indian warplane maker Hindustan Aeronautics (HAL) HIAE.NS climbs as much as 1.6% to 4,980 rupees

** Co wins bid to take over private production of India’s Small Satellite Launch Vehicle, Reuters reports

** Company slated to win the bid was expected to pay 3 billion rupees to India's space regulator - Reuters reported in February

** Analysts' avg rating on stock is "buy", median PT is 5,645 rupees - data compiled by LSEG

** Stock up ~19% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

June 4 (Reuters) - Hindustan Aeronautics Ltd HIAE.NS:

• HINDUSTAN AERONAUTICS LTD - DENIES REPORTS OF STALLED NEGOTIATIONS WITH GENERAL ELECTRIC

• HAL: NEGOTIATIONS WITH GE ARE ON TRACK AND PROGRESSING WELL

• HAL: HAL IS NOT IN TALKS WITH ANY OTHER COMPANY REGARDING ENGINES FOR LCA MK2

Source text: ID:nBSEbhBch9

Further company coverage: HIAE.NS

(([email protected];))

By Greg Torode and Jun Yuan Yong

HONG KONG, May 28 (Reuters) - Spending on weapons and research is spiking among some Asian countries as they respond to a darkening security outlook by broadening their outside industrial partnerships while trying to boost their own defence industries, a new study has found.

The annual Asia-Pacific Regional Security Assessment released on Wednesday by the London-based International Institute for Strategic Studies (IISS) said outside industrial help remains vital even as regional nations ultimately aim for self-reliance.

"Recent conflicts in Ukraine and the Middle East, coupled with worsening U.S.-China strategic competition and deterioration of the Asia-Pacific security landscape, may lead to a rising tide of defence-industrial partnerships," it read.

"Competitive security dynamics over simmering flashpoints ... feed into the need to develop military capabilities to address them."

Spending on defence procurement and research and development rose $2.7 billion between 2022 and 2024, it showed, to reach $10.5 billion among Southeast Asia's key nations of Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

The spike comes even as the nations spent an average of 1.5% of GDP on defence in 2024, a figure that has kept relatively constant over the last decade.

The study, released ahead of this weekend's annual Shangri-La Dialogue defence meeting in Singapore, said Asia-Pacific nations still rely on imports for most key weapons and equipment.

Such items range from submarines and combat aircraft to drones, missiles and advanced electronics for surveillance and intelligence gathering.

The informal Singapore gathering of global defence and military officials is expected to be dominated by uncertainties stemming from the protracted Ukraine conflict, Trump administration security policies and regional tension over Taiwan and the disputed busy waterway of the South China Sea .

Saudi Arabia and the United Arab Emirates are increasingly active and making inroads, the study said, though European companies have a prominent and expanding regional presence, via technology transfer, joint ventures and licenced assembly deals.

The UAE now operates a diversified network of collaborators, such as China's NORINCO weapons giant and rival India's Hindustan Aeronautics.

Joint development operations are not always easy, the study said, offering lessons from India's two-decade collaboration with Russia to produce the BrahMos supersonic anti-ship missile.

While the feared weapon is fielded by India, exports have been hampered by lack of a clear strategy, with deliveries to its first third-party customer, the Philippines, starting only in 2024, the study added.

Closer Russia-China ties could further complicate the weapon's development, particularly if Moscow chooses to prioritise ties with Beijing to develop a hypersonic version of the missile.

(Reporting by Greg Torode in Hong Kong and Yong Jun Yuan in Singapore; Editing by Clarence Fernandez)

(([email protected]; 852 6749 4661;))

** Motilal Oswal starts Hindustan Aeronautics HIAE.NS with "buy", PT of 5,100 rupees

** Warplane maker's stock rises ~2.3% to 4,122 rupees

** Brokerage expects HAL to benefit from strong pipeline of projects and overall revenue to record 29% CAGR over FY25-27, driven by a sharp scale up in manufacturing revenue

** Says co's projects, including Tejas Mk1, Tejas Mk1a and Su-30 upgrade, will fuel manufacturing revenue growth

** Stock rated "buy" on avg; median PT is 4,887 rupees, per data compiled by LSEG

** HIAE down 1.66% this year, as of last close

(Reporting by Shivani Tanna in Bengaluru)

(([email protected];))

** India's Hindustan Aeronautics Ltd (HAL) HIAE.NS soars as much as 6.4% to three-month high of 4,444.95 rupees

** HAL to supply 156 light combat helicopters to Indian defence ministry in two contracts worth 627 bln rupees ($11.7 mln)

** Sees provisional FY25 revenue of 304 bln rupees vs 303.8 bln rupees in FY24; order book of 1.84 trln rupees at FY end from 94.1 bln rupees at start

** UBS raises PT to 5,440 rupees on improved visibility in orderbook execution

** Antique Stock Broking expects ramp in rev from FY26 on alleviating supply challenges

** Trading volume of ~3.5 mln shares is double the six-month daily avg

** HIAE up 6% YTD

($1 = 85.4700 Indian rupees)

(Reporting by Vivek Kumar M)

(([email protected];))

NEW DELHI, March 28 (Reuters) - India has signed a contract to buy 156 light combat Prachand helicopters for its air force and army, at cost of more than 627 billion rupees ($7.33 billion), an Indian official said on Friday.

($1 = 85.4850 Indian rupees)

(Reporting by Shivam Patel in New Delhi; Editing by Aidan Lewis)

(([email protected];))

March 27 (Reuters) - Hindustan Aeronautics Ltd HIAE.NS:

• SIGNED TODAY AN AMENDMENT TO LCA MK1 FOC CONTRACT

• CONTRACT HAS BEEN REVISED TO 65.42 BILLION RUPEES

Source text: ID:nBSE1yqzNc

Further company coverage: HIAE.NS

(([email protected];))

** Defence and aerospace firm Hindustan Aeronautics Ltd (HAL) HIAE.NS up 2.87% at 4127.25 rupees

** GE Aerospace GE.N delivers first of 99 engines to HAL for Tejas Light Combat aircraft, local media reports

** Delivery comes after months of delay due to GE supply chain issues

** 12 engines to be delivered this year, The Hindu reports

** HAL shares have gained 25% in the last 12 months

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

Corrects paragraph 9 in March 5 story to say each rocket, not each booster, costs about $30 million.

By Nivedita Bhattacharjee

BENGALURU, March 5 (Reuters) - The Indian industrial conglomerate Larsen & Toubro LART.NS said it is betting on aerospace as a potential growth engine, including launch vehicle and satellite manufacturing, as the country cuts reliance on imports and boosts private participation.

L&T, considered a bellwether for India's infrastructure spending because of how many industries its work touches, is the country's largest private-sector defense manufacturer by revenue; its Precision Engineering and Systems unit posted revenue of 46.10 billion rupees ($548.3 million) in the 2024 fiscal year, up 41% from the previous year.

At its factory in Coimbatore, in the southern Indian state of Tamil Nadu, L&T is assembling the country's first privately built Polar Satellite Launch Vehicle (PSLV), a mainstay of ISRO's launch programme, through a consortium with Hindustan Aeronautics Limited HIAE.NS. It is also building equipment for ISRO's other deep space exploration programs.

The company hopes to scale up its space business amid India's privatization push, which has eased foreign investment limits and allocated a larger share of procurement budgets away from state-run enterprises.

"We have decades of experience in high-tech manufacturing, critical systems, and scaling up production. The same expertise applies to aerospace," AT Ramchandani, senior vice president and head of L&T's Precision Engineering and Systems, told Reuters in an interview at the factory.

Walking through the facility, amid workers building heat shields and other rocket components, he said the global launch vehicle market was expected to hit about $160 billion over the next decade. The Indian government has set a target of reaching $44 billion for the country's commercial space sector in that time. India's space sector is valued at $13 billion, according to a February report by research firm DAM Capital.

L&T's plans intersect with India's strategy to position the country as a leading space power, with Prime Minister Modi's government pushing for the industry to become a force for further economic growth.

The country hopes liberalized regulations allowing private firms to design, build and operate launch services will attract global players, mirroring the commercial space boom seen in the United States and Europe.

The first launch of a privately built PSLV booster, delayed from early 2025, is expected to occur by mid-year, though an exact date had not yet been decided, Ramchandani said. Each rocket costs about $30 million.

"Clearly when we are getting into a business like this, it is with an eye to the global market," Ramchandani said. "There’s demand for timely and cost-effective launches, especially as satellite constellations grow. If we can provide availability, reliability, and cost advantages, India can be competitive."

(Reporting by Nivedita Bhattacharjee in Bengaluru. Editing by Gerry Doyle)

(([email protected]; Mobile: +91 9920455129; X: @tweetsfromnivi;))

By Shivam Patel

NEW DELHI, March 4 (Reuters) - An Indian defence committee has recommended including the private sector in military aircraft manufacturing to shore up the capabilities of the Indian Air Force, whose falling squadron strength and delayed fighter deliveries have irked its chief.

The move, if accepted, would boost India's private defence firms and reduce the burden on state-owned Hindustan Aeronautics Ltd HIAE.NS, which makes most of India's military aircraft.

The committee, headed by defence ministry's top bureaucrat, submitted its report to Defence Minister Rajnath Singh on Monday, the government said in a statement late on Monday, adding that Singh had directed that recommendations "be followed up in a time bound manner".

The Indian Air Force's fleet of mainly Soviet-origin aircraft has been operating with only 31 fighter squadrons compared with a target of 42 amid tense relations with neighbours China and Pakistan.

India's Air Chief Marshal AP Singh has said that the country should involve the private sector to speed up defence aerospace manufacturing. Speaking at an event in New Delhi last week, he said India must add 35-40 fighters per year to fill existing gaps and phase out older aircraft.

Indian officials have said that Hindustan Aeronautics could deliver up to 24 aircraft powered by a General Electric GE.N engine in the coming fiscal year, which begins in April.

The company was unable to deliver any of the 83 fighters on order in the current fiscal year, in part due to the slow arrival of engines from GE, which has been facing supply chain issues.

(Reporting by Shivam Patel in New Delhi. Editing by Gerry Doyle)

(([email protected];))

By Aditya Kalra, Shivam Patel and Tim Hepher

NEW DELHI/PARIS, Feb 28 (Reuters) - India is in talks to purchase 10 more Airbus C-295 military transport aircraft than the 71 it had planned, as the country ramps up efforts to replace its ageing fleet with locally built planes, three people familiar with the matter told Reuters.

The discussions come as a boost for Airbus' AIR.PA partnership with Indian conglomerate Tata Group after they jointly opened an assembly line for the C-295 in the western state of Gujarat last year.

India's government in 2021 struck a $2.52 billion deal for 56 C-295 aircraft for the Air Force, and last year gave an initial nod for 15 more for its navy and coast guard. Now, talks are on to add up to 10 aircraft to the 2024 order, said the three sources, who declined to be named as the talks are private.

One source said the additional planes are for the Indian Air Force.

"The Indian Air Force has significant transport capability requirements; they need a lot of aircraft," said Laxman Behera, a defence expert at the Jawaharlal Nehru University in New Delhi.

Airbus and Tata Advanced Systems, which is running the project, declined to comment. India's defence ministry did not respond to a Reuters request for comment.

Going by the deal value of the 2021 purchase of 56 aircraft, an expanded order for 25 C-295s could be worth $1.1 billion.

India is the world's biggest arms importer but has been trying to boost domestic production and self reliance as it looks to counter neighbouring China's rapidly growing military.

The C-295 is a multi-role transport aircraft that can carry up to 70 troops or eight tonnes of cargo and can carry out missions such as airborne warning, surveillance and reconnaissance.

Airbus has said the Indian Air Force will soon become the largest C-295 operator, and that in India, all of the aircraft's structural components are being made locally.

AIR FORCE'S GROWING NEEDS

The source who said the expanded order was for the Air Force also said the Indian government is likely to place more orders for C-295s, while a separate industry source, familiar with the Ministry of Defence's thinking, said New Delhi wants up to 75 more C-295s, above the 56 ordered in 2021.

Sixteen C-295s from the 2021 order are due to come from Airbus' site in Spain while the remaining are expected to be assembled at the Airbus-Tata facility in India by 2031.

The new purchased C-295s could come solely from the Gujarat assembly line, but if New Delhi wants delivery faster, some may still need to come from Spain, the first source added.

The C-295 replaces India's legacy fleet of 56 Avro HS-748, which were first introduced in 1961 and formed the backbone of the Air Force's transport fleet.

The Indian Air Force chief this year criticised slow deliveries of fighter jets from state-run warplane maker Hindustan Aeronautics HIAE.NS and has emphasised increasing production speed and called for opening up warplane manufacturing to private firms to boost competition.

(Reporting by Aditya Kalra, Shivam Patel and Tim Hepher; Additional reporting by Aditi Shah; Editing by Gerry Doyle)

(([email protected];))

Repeats story from February 14, no changes to text

By Nivedita Bhattacharjee

BENGALURU, Feb 14 (Reuters) - Indian conglomerate Adani Group is a finalist, alongside two government-linked groups, to take over private production of India’s Small Satellite Launch Vehicle, three sources familiar with the matter told Reuters.

The SSLV, developed by the Indian Space Research Organisation, is a low-cost vehicle capable of deploying satellites of up to 500 kg (1,100 pounds) into low-Earth orbit, or LEO - the most sought after segment of the satellite launch market.

After its first successful launch in 2023, the government moved to transfer the vehicle’s production and technology to private industry as part of a broader push to expand India’s commercial space sector.

That move has been the highest-profile piece of India's privatisation efforts, which the government hopes will help the country claim a greater share of the booming global satellite launch market, dominated by private players such as SpaceX.

“LEO is the name of the game right now, so the potential winner has the opportunity to really tap into a rapidly growing market,” said Damodaran Raman, a director at Deloitte who soecialises in space tech.

About 20 companies initially expressed interest in bidding for the SSLV, the first privatisation of its kind under Prime Minister Narendra Modi’s policy drive to open up India’s space industry.

The three finalist consortiums include Alpha Design Technologies, in which Adani Defence Systems and Technologies owns a stake; state-backed Bharat Dynamics Limited BARA.NS; and Hindustan Aeronautics Limited HIAE.NS. Reuters could not verify the exact structure of each bidding group.

The companies did not respond to Reuters requests for comment. The sources did not want to be named because details of the bids are not public.

The winning company is expected to pay India's space agency about 3 billion rupees ($30 million) for the SSLV, covering design know-how, manufacturing processes, quality-assurance training, and up to 24 months of technical support or two successful launches, according to one of the sources.

Beyond financial capability, bidders must demonstrate the ability to manufacture, sustain, and sell the SSLV.

A second source familiar with the matter said the limited availability of launch slots with major industry players such as SpaceX presents a significant opportunity for new entrants, with the possibility of positioning themselves as a go-to launch partner for South Asia.

The global satellite launch vehicle market is projected to grow from $5.6 billion in 2025 to $113 billion by 2030, with low-Earth orbit launches dominating, according to research firm Mordor Intelligence.

India accounts for only 2% of the global space economy. The Modi government aims to expand that share fivefold to $44 billion by the end of the decade.

Companies vying for the SSLV contract were required to be profitable, with the lead bidder having at least five years of manufacturing experience and an annual revenue of at least 4 billion rupees ($50 million), according to India’s space regulator.

($1 = 86.9500 Indian rupees)

($1 = 86.7540 Indian rupees)

(Reporting by Nivedita Bhattacharjee in Bengaluru. Editing by Gerry Doyle)

(([email protected]; Mobile: +91 9920455129; X: @tweetsfromnivi;))

By Shivam Patel and Abhijith Ganapavaram

BENGALURU, India, Feb 14 (Reuters) - India is likely to seek bids this year for 114 multi-role fighters, two sources said, marking a major step in a process to bolster the country's stock of combat aircraft that has gone on for nearly two decades.

The project is critical for the Indian Air Force, whose squadrons of mainly Russian and ex-Soviet aircraft have fallen to 31 from an approved strength of 42 at a time when rival China is expanding its air force rapidly.

On the sidelines of the Aero India aerospace exhibition in Bengaluru, many of the companies who expressed interest in 2018 - when the government last sought planemakers for the project - said they were still in the hunt.

"The Chinese are inducting modern fighters and Pakistanis are also getting some Chinese support whereas the Indian Air Force, in terms of combat squadrons, is deficient. There is no doubt about it," said Laxman Behera, a defence expert at government-funded Jawaharlal Nehru University in New Delhi.

"We'll have to wait and watch."

Potential competitors for the Multi-Role Fighter Aircraft (MRFA) contract include U.S. defence firms Lockheed Martin LMT.N and Boeing BA.N, Russia's United Aircraft Corporation (UAC), France's Dassault Aviation AM.PA, Sweden's Saab AB SAABb.ST, and Germany's Eurofighter.

Companies are preparing supply chain blueprints, scouting for local partners, and ensuring cost effectiveness of their offerings, two executives and three sources told Reuters this week at the exhibition.

Lockheed Martin is trying to sell its F-21, an India-specific variant of its widely used F-16 fighter, to New Delhi for the MRFA, which will be a 4.5 generation aircraft made in India with a local partner.

Separately on Thursday, President Donald Trump said the U.S. would eventually sell the country fifth generation F-35 stealth fighters, although India's foreign secretary said afterward that no formal process had started yet.

"We are encouraged by the recent announcement by President Trump to provide the F-35 to India. However, these are government-to-government decisions. We look forward to working closely with both governments on upcoming strategic procurements," a Lockheed Martin spokesperson said.

RUSSIAN SUPPLIES

Lockheed builds F-16 wings at the company's joint production facility with India's Tata Group in the southern city of Hyderabad and has plans to use the facility for F-21 jets.

The IAF does not have U.S. fighter jets in its active fleet, but about 50 aircraft are powered by General Electric engines, with 170 more on order.

UAC may have advanced jets on offer, including the stealthy Sukhoi Su-57, a Russian industry source said.

The Su-57 is a generation ahead of the Su-35 and the MiG-35 that were previously on offer for the MRFA and has a more powerful engine, avionics, and radar systems.

Russia has for decades been the main weapons supplier to India, the world's biggest arms importer. But New Delhi has been diversifying its imports since the war in Ukraine hobbled Moscow's ability to supply spares to India.

Russia brought the Su-57 to Aero India and offered to make the aircraft in India in "informal" conversations with Indian defence officials, saying it could by built using local production lines for Su-30s.

More than 10 years ago, Russia and India had planned to build the Su-57, then called the T-50, in India, but the effort was abandoned.

Sweden's Saab, which also intends to compete for the MRFA project with its JAS-39 Gripen E jet, has a blueprint for an Indian supply chain, said Kent-Åke Molin, head of the Gripen India campaign.

Molin said he was speaking to potential partners for the project and that Indian officials had given a "very positive" reception to the aircraft, adding that the jet was more cost-efficient than its peers.

The MRFA project is a continuation of an uncompleted acquisition of 126 jets that started in 2007 but was withdrawn in 2015 after Modi's government decided to buy 36 Rafale fighter jets from Dassault Aviation AM.PA. The Rafale is also a potential competitor in the MRFA project.

Dassault did not immediately respond to a request for comment.

(Reporting by Shivam Patel and Abhijith Ganapavaram in Bengaluru. Editing by Gerry Doyle and David Evans)

(([email protected];))