Mahindra wins components production contract from Airbus

MUMBAI (Reuters) - Mahindra Aerospace, a wholly-owned unit of India's diversified Mahindra Group, said on Monday it had won a multi-year contract from Airbus Group to make and supply aerospace components to the European planemaker.

Mahindra Aerospace will produce the aero-components in India and the deliveries to Airbus will start this year, the Indian company said, adding deliverables under the contract would be in excess of a million parts per annum.

Financial details were not disclosed.

The contract is part of the Indian government's "make in India" vision, Mahindra group flagship Mahindra & Mahindra Chairman and Managing Director Anand Mahindra said in a company statement.

 

He was referring to Prime Minister Narendra Modi's campaign to boost the country's manufacturing sector, where growth has slowed from the near double-digit percentage rates seen in 2008.

(Reporting by Suvashree Dey Choudhury; Editing by Mark Potter)