London, United Kingdom: Rishi Sunak, the Prime Minister of the United Kingdom, hailed a “momentous deal” between Airbus and Rolls-Royce to supply Air India with brand-new aircraft on Tuesday.
According to a formal statement, the agreement would foster the development of highly skilled jobs in Wales and Derbyshire, encourage export growth, and contribute to economic expansion.
According to a press release from the UK’s Department for International Trade, “Prime Minister Rishi Sunak and Commerce and Trade Secretary Kemi Badenoch have applauded a big contract worth billions of pounds to the UK for Airbus and Rolls-Royce to supply Air India with new aircraft.”
The press release states that the UK is expected to host a sizable component of the new aircraft’s manufacturing process.
In addition to contributing £10.6 billion to the UK economy in 2021, the aerospace industry also employed 111,000 highly trained workers.
The transaction between Air India and Airbus and Rolls-Royce, according to UK Prime Minister Rishi Sunak, demonstrates that there are no boundaries for the UK’s aerospace industry.
“In order to expand the economy and assist our goal in levelling up, it will provide new possibilities and better-paying jobs in manufacturing centres from Derby to Wales. This will help me achieve my five priorities for the country,” he mentioned.
It was a “major triumph,” according to UK Business and Trade Minister Kemi Badenoch, for the country’s aerospace industry. Badenoch emphasised that the UK and India are now negotiating a trade agreement that may increase commerce by as much as £28 billion annually by 2035.
“A trade agreement that we’re now discussing with India could increase commerce by up to £28 billion annually by 2035. This and other export success is a significant step towards closer commercial ties between our two countries,” he continued.