
Reliance Industries and Rolls-Royce have officially announced their strategic intent to partner on developing and manufacturing an indigenous combat engine for India's AMCA programme, with the announcement made on August 14, 2026. The collaboration targets the engine for India's next-generation stealth fighter, with the AMCA prototype expected to roll out in 2028. According to reports from Reuters, the partnership represents a significant step towards realizing the vision set out by the Hon'ble Prime Minister of India, Shri Narendra Modi, for India's defence ecosystem to deliver an indigenous engine to power the country's fighter jet programme. As per Reliance Industries, the partnership aims to combine Rolls-Royce's advanced propulsion expertise with Reliance's manufacturing and industrial capabilities to build end-to-end domestic engine capabilities. The development adds a new dimension to India's effort to build a home-grown fifth-generation stealth fighter, as the engine has long been one of the most challenging parts of India's fighter aircraft programmes, with the country historically depending heavily on foreign engines.
As part of the partnership, Reliance and Rolls-Royce will explore the formation of a dedicated Aerospace Gas Turbine Complex that will serve as a centre of excellence for power and propulsion technology in India. The complex will build sovereign, end-to-end Indian capability across design, development, manufacturing, testing, production and through-life support. According to the latest announcement, the proposed Aerospace Gas Turbine Complex could help establish a sovereign Indian capability across the full engine development and production cycle. The partnership would bring together Rolls-Royce's experience in aero-engine technology with Reliance's capabilities in technology, manufacturing and project execution. The objective is to develop the engine for India's Advanced Medium Combat Aircraft programme within the country. The proposed complex could eventually support collaboration beyond the AMCA engine, including projects in defence, civil aerospace and newer power and propulsion technologies. If realised, the facility could give India an end-to-end domestic capability for combat engine development, from designing and manufacturing engines to testing, production and supporting them throughout their operational life.
Anant Ambani, Executive Director of Reliance Industries, emphasized the strategic importance of the partnership, stating that "India's strategic autonomy requires sovereign capability in critical technologies. Our intent with Rolls-Royce is to combine their world-leading expertise in advanced propulsion with Reliance's technology, manufacturing, scale and execution capabilities to build an indigenous aero-engine ecosystem in India. Together, we aim to build an enduring national capability that can make India self-reliant, and over time, globally competitive in advanced propulsion technologies." Ambani added that the collaboration aims to create a long-term national capability that could make India self-reliant and eventually globally competitive in advanced propulsion technologies. Tufan Erginbilgi, CEO of Rolls-Royce, welcomed the opportunity, stating that "I welcome the opportunity to join forces with Reliance Industries, bringing together our century-long heritage in advanced engineering and proven engine expertise with their homegrown leadership in Indian industry. Together, with our existing partnerships and capabilities in India, this marks a major milestone towards building a robust, self-reliant aerospace ecosystem in the country."
Reliance Industries shares closed around 0.5% higher at ₹1,316 apiece on Monday, despite the overall bearish market sentiment, as reported by The Economic Times. The stock has fallen around 1% in a week and a month, and is overall down 16% in 2026 so far. The partnership potentially positions Rolls-Royce against France's Safran, which has separately proposed a joint venture with India's state-run GTRE to develop a higher-thrust engine for later versions of the AMCA fighter. This development comes as India approved a framework to build its most advanced stealth fighter jet and invited interest from defence firms, weeks after a military conflict with nuclear-armed neighbour Pakistan. Morgan Stanley retained its positive view on Reliance Industries after the partnership announcement, highlighting that the Mukesh Ambani-led conglomerate is re-imagining its strategic direction again. The brokerage noted that manufacturing is getting a fillip through the partnership, especially in areas where technology and capital are key bottlenecks.
According to the latest financial data, Reliance Industries reported consolidated revenue of ₹11,75,919 crore (US$ 124.0 billion) and cash profit of ₹1,71,258 crore (US$ 18.1 billion) for the year ended March 31, 2026. The company achieved net profit of ₹95,754 crore (US$ 10.1 billion) during the same period. Currently ranked 85th globally, Reliance is the largest private sector company from India to feature in Fortune's Global 500 list of 'World's Largest Companies' for 2026. The company stands 55th in the Forbes Global 2000 rankings of 'World's Largest Public Companies' for 2026, the highest among Indian companies. Rolls-Royce reported annual underlying revenue of £20.1 billion in 2025 and underlying operating profit of £3.46 billion.