Trump-Modi Meeting: India To Amp Up US Weapons Purchases, Will Receive F-35 Stealth Fighters

President Donald Trump has announced that the United States will escalate its military sales to India from 2025, which will include the supply of F-35 fighter jets.

As detailed by Reuters, Trump declared that the U.S. will augment its weapons sales to the South Asian nation by billions of dollars, eventually incorporating the F-35 stealth fighters. The exact timeline for this agreement is yet to be determined, as foreign military sales, especially those involving high-tech equipment like the F-35 jet, typically require several years to finalize.

The announcement was made during a joint press conference with Indian Prime Minister Narendra Modi. Trump also disclosed a deal for India to increase its import of US oil and gas, with the aim of reducing the trade deficit between the two countries.

Trump stated that the US and India will join forces to combat “the threat of radical Islamic terrorism.” The defense contractor for the F-35, Lockheed Martin (NYSE:LMT), has not yet issued a statement regarding the proposed sale of the jets to India, according to the report.

Since 2008, India has consented to buy over $20 billion in U.S. defense products. The U.S. Congressional Research Service predicts that India will spend over $200 billion in the next 10 years to update its armed forces.

The announcement comes after Trump previously praised Modi as ‘fantastic’ despite calling India a ‘very big abuser.’

Price Action: On Thursday, Lockheed Martin stock ended the day 1.6% lower at $434.72 in the regular session and was largely unchanged in the after-hours trading, according to Benzinga Pro data.

Photo by Madhuram Paliwal on Shutterstock.

Read Next:

• EXCLUSIVE: Eco Wave Power Signs MoU With India’s Bharat Petroleum To Develop Wave Energy

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal