Airbus, the European aviation and aerospace company, announced on Monday that it has inked new contracts with a number of Indian suppliers for the production of commercial aircraft components. Airbus said in a statement that contracts have been signed with Aequs, Dynamatic, Gardner, and Mahindra Aerospace for the supply of airframe and wing parts for the A320neo, A330neo, and A350 projects.

The latest contracts come after Airbus awarded Tata Advanced Systems the fabrication of A320neo family cargo and bulk cargo doors earlier this year.

The company already purchases components and services worth USD 750 million from India each year, and the latest batch of contracts will dramatically increase those volumes, according to the company.

"Make in India is at the heart of Airbus' India strategy." "We are proud to be putting in place all of the critical building blocks for an integrated industrial ecosystem that will propel India to the forefront of aerospace manufacturing nations," said Remi Maillard, President and Managing Director of Airbus India and South Asia.

"India is a strategic resource hub for both human capital and aerospace components and services for Airbus." "We are delighted to expand our collaboration with Aequs, Dynamatic, Gardner, and Mahindra Aerospace," he stated.

These contracts will support the global ramp-up of Airbus' commercial aircraft programmes, while also improving expertise and capacity in India's aviation ecosystem across numerous technologies, including sheet metal, machining, and extrusion profiles, according to the firm.

Airbus announced that it supports almost 10,000 employment in India through its supply chain, with that number likely to rise to 15,000 by 2025.