Rolls-Royce and Reliance Industries announced a strategic partnership to develop indigenous combat engines. The project supports India’s Advanced Medium Combat Aircraft (AMCA) program. The companies will design and manufacture advanced propulsion systems in India. This announcement followed market hours on Friday, August 14.
The agreement includes plans to establish a dedicated aerospace complex in India. This facility will serve as a center of excellence for power and propulsion technology. The initiative aims to build end-to-end sovereign capabilities for the Indian aerospace sector.
Rolls-Royce CEO Turfan Erginbilgic stated the partnership combines engineering heritage with Reliance’s industrial leadership. Separately, Citigroup raised its price target on Rolls-Royce shares to 1,647p. The previous target was 1,101p. The bank maintained a neutral rating following strong first-half results and improved forecasts for the Power Systems division.