Ferra Aerospace and Dynamatic Technologies sign MoU for aerospace and defence advancement
The Hindu
This MoU will lead to collaboration on product integration, testing, technology development of airframe structures and precision aerospace components for customers across the Indian market
Ferra Aerospace India, through Queensland-based Ferra Engineering Australia, has entered into a contractual agreement by signing an MoU with Bengaluru-based Dynamatic Technologies Limited to enhance their scale and capabilities in strategic aerospace manufacturing.
This will lead to collaboration on product integration, testing, technology development of airframe structures and precision aerospace components for customers across the Indian market.
The MoU was signed on March 20 by Managing Director and General Manager of Ferra Aerospace Private Limited Sridhar Chinthaand with Udayant Malhoutra, CEO and Managing Director of Dynamatic Technologies Limited, in the presence of Treasurer of Queensland and Minister for Trade and Investment Queensland Cameron Dick.
Mr Dick said, “We commend Ferra’s Brisbane and India teams for securing deals with prestigious customers in India, like Dynamatic Technologies. Partnerships with global defence giants, like Boeing and Dynamatic Technologies, strengthen Queensland’s advanced manufacturing capabilities. Support and advancement of companies, like Ferra, further diversifies our economy and builds on our existing skills base in Queensland.”
The decline in India’s net foreign direct investment (FDI) inflows, which have dropped almost 31% to $25.5 billion over the first ten months of 2023-24, is in line with the slowdown in such investments to developing countries, the Finance Ministry has said, while holding out hope for an uptick in investments this year.