According to a press release from the Ministry of Defence, the Indian Air Force and Hindustan Aeronautics Ltd. have agreed to buy 70 HTT-40 indigenous trainer aircraft for a total of Rs 6,800 crore. On October 20, the contract was signed during the 12th DefExpo held in Gujarat.
At 11:35 a.m. on the BSE, the company’s shares were trading 0.2 percent lower at Rs 2,442.3. On October 19, Prime Minister Narendra Modi launched the HAL HTT-40 indigenous trainer aircraft at the expo’s India Pavilion. The aeroplane was built with pilot-friendly features and state-of-the-art modern technology.
“A total of 451 memoranda of understanding, transfer of technology agreements and product launches took place during the Bandhan ceremony of 12th DefExpo in Gandhinagar, Gujarat on October 20, 2022, the ministry stated in a press release. Of the 451, there were 345 MoUs, 42 major announcements, 46 product launches and 18 ToTs, it added.
The contribution of Gujarat was 28 MoUs and one product launch. It envisages investment worth Rs 1.5 lakh crore.
Earlier this year, Hindustan Aeronautics Limited (HAL) entered into a contract with the Government of Mauritius to export one Advanced Light Helicopter-MkIII for the Mauritius Police Force.
