SME Times is powered by   
Search News
Just in:   • Trifecta Capital closes 2nd debt fund at Rs 1,025 cr  • ICICI Bank reduces home loan interest rate to 6.70%  • Higher infra spend ups 'Construction Equipment' volumes  • Ezstays completes seed round of funding  • Demand for luxury smart homes, villas rise 
Last updated: 09 Jan, 2021  

Flight.9.thmb.jpg 'Time to move from generics to specifics in aerospace manufacturing'

Flight.9.jpg
   Top Stories
» Feb exports down on container shortage: FIEO
» Industry should stress skill training: Naidu
» GVA growth more accurate than GDP numbers for FY21: DEA
» Forex reserves rise by $689 mn
» Champion industry, aluminium, looks for 5% RoDTEP rate to boost exports
SME Times News Bureau | 09 Jan, 2021
Pradeep Singh Kharola, Secretary, Ministry of Civil Aviation, Govt of India today said the state governments must play an important role in aerospace components manufacturing. State policies on investment, taxation, and labour attract manufacturing units from all over the country.

Speaking at the Aero India 2021- 13th Biennial International Exhibition & Conference on 'Making India Self Reliant in Aerospace Manufacturing', organized by FICCI and Ministry of Civil Aviation, Mr Kharola said that it is now time to move from generics to specifics as far as aerospace manufacturing is concerned. Drones are an important part of the aerospace industry. Our young entrepreneurs can capitalise on the various reforms being brought in by the government, he said.

Kharola said that the aerospace industry ranges from R&D and design, manufacturing to MRO. "The MRO (Maintenance,  Repair, Overhaul) is a fledgling industry, and we are working towards making it more vibrant and sustainable and to ensure that India emerges as the MRO hub of the region," he added.

Elaborating further, Kharola said that with fast expanding skies, most aircraft need to be sent abroad for maintenance and repair. "This is the lowest hanging fruit that needs to be plucked. We are working on certain reforms- the tax policies have been rationalised. As a result, our MROs are on a level playing field," he added.

He said that manufacturing that was thought to be an exclusive domain of the public sector, now has private players moving into India into the components manufacturing sector. This is a sector that needs to be strengthened further and this is the sector where the actual growth will come from. It can grow monumentally, he said.

We have a large defence requirement- the defence offset policy wherein a favourable environment has been created for investments to be made in India and this requirement will only increase. "We need to sit together with stakeholders and identify opportunities to get the required synergy to sustain the aerospace sector," he noted.

Sumita Dawra, Additional Secretary, Department for Promotion of Industry and Internal Trade, Govt of India said that the Indian aviation industry has witnessed a robust growth over the years. It plays a key role in connecting Indians across remote corners of the country. "The Indian civil aviation industry has become one of the world's most lucrative aviation markets. There are huge opportunities in the Indian aviation industry for investments. The world is focused on Indian aviation and business opportunities- from manufacturers, tourism boards to global businesses," she said.

Further, Dawra said that India will need a roadmap to boost manufacturing of the critical components. "India is open to partnering with the manufacturers of the world under Make in India and be a critical partner of the supply chain of aerospace manufacturing. The DPIIT has also been working on creating a national single window system which is projected to be launched by mid-April 2021, which will be a convergence point for clearances for investors. We have also put together and launched a GIS enabled land bank which is in public domain now," she added.

"We have also undertaken an exercise to rate industrial parks of the country to facilitate investors in making their investment choices," noted Ms Dawra.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 06 Mar, 2021
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Resurgence in MSME credit(1)
» L&T secures Rs.3.44 billion project from Power Grid(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter