French aircraft engine maker Safran SA will quintuple component procurement from India to €500 million ($579 million) by 2030, highlighting the country’s rising stature as a major aviation market.

Safran currently sources about €100 million worth of components from the South Asian nation but plans to expand its supplier base significantly, Chief Executive Officer Olivier Andriès said in an interview. The company plans to work with more Indian partners in line with its long-term growth strategy, he added.

The Paris-based company inaugurated a LEAP engine maintenance, repair and overhaul, or MRO, center in the southern Indian city of Hyderabad on November 26. This will help Indian airlines tap these aircraft services locally instead of going overseas, which is costlier and time-consuming. 

Safran Electronics & Defense signed a pact earlier this week with state-run Bharat Electronics Ltd. to jointly manufacture an air-to-ground weapon. Its “Hammer” system will be designed for multiple platforms, including the Rafale fighter jets and Indian-made light combat aircraft Tejas.

About half of the €30 million investment will come from Safran, according to Andriès.

India’s Defence Acquisition Procedure 2020 prioritizes indigenous manufacturing, and requires foreign manufacturers to reinvest a portion of contract value into the local defense ecosystem.

The Indian Air Force purchased 36 French Rafale fighters, and Dassault Aviation SA subsequently confirmed the sale of 26 Rafale Marine aircraft to the Indian Navy in 2023. The fighters use Snecma M88 engines, produced by a Safran unit.

The French firm also announced plans on November 26 for an MRO shop for the M88 engine used in the Rafale aircraft.

Safran said it is open to making engines for Dassault’s Rafale in India, if new orders come through. That would make it the first time it produces engines outside France, Andriès said.