Dr Brendan Nelson, Senior VP of The Boeing Company and President of Boeing Global, on Tuesday (March 18) expressed optimism that the anticipated India-US Free Trade Agreement (FTA) will further strengthen the company’s business in India, citing the nation’s growing aerospace sector and ongoing reforms.

“The relationship that we have with India is extraordinarily important. Thirty percent of our non-US workforce — around 7,000 people — are here in India. We have advanced manufacturing, a supply and distribution centre, a major engineering centre in Bengaluru employing around 6,000 people across two campuses, and investments in MROs and support services,” he told CNBC TV18 in an exclusive interview.

Boeing has also invested in a joint venture with the Tata Group in Hyderabad and continues to support India’s defence sector and the expansion of its aviation infrastructure, including secondary and regional airports, Nelson said.

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Speaking on India’s business environment, he said, “What Prime Minister Modi has done over more than a decade — reforms in finance, IT, infrastructure, and energy transition — has created a country that is now close to a superpower. It makes India an exciting and appealing destination for investment.”

“The Indian government has already responded to some concerns we raised, making it easier for the aircraft leasing market to develop, reducing tariffs on components that support MROs, and ensuring new airports are fully integrated into the aerospace sector,” he noted.

He stressed on Boeing’s commitment to India’s aviation industry, highlighting the significance of existing aircraft orders. “At the moment, Akasa Air and Air India have ordered 446 Boeing commercial aeroplanes. That’s going to take a big bite out of the trade deficit, and we want to do a lot more in supporting India,” he said.

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Boeing reiterated its commitment to strengthening its role in India and working towards a fair trade agreement that benefits both nations. “We are ready to be a positive part of that FTA and help build on the strong foundation we have in India,” he concluded.