Thursday, June 13, 2024

Civil Aviation Minister Jyotiraditya Scindia Addresses Aero MRO India A&D 2022; Pledges To Support Industry

By Staff Correspondent

Union Minister of Civil Aviation, Jyotiraditya Scindia virtually addressed the annual session of Aero MRO India 2022, a two-day forum organised by the MRO Association of India at Hotel Pride Plaza at Aerocity, New Delhi between 3-4 November. The theme of the forum is ‘India: An MRO Hub’. The civil aviation minister’s inaugural address to all the stakeholders present was indicative of this industry’s growth potential.

The union minister began by saying, “The MRO industry in India is an industry which is integral to the civil aviation industry in India. And as civil aviation takes on new wings, the unprecedented growth, a huge amount of potential in both domestic and international markets.”

“The MRO sector becomes an even more important cog in the wheel of civil aviation sector today. Sensing this and understanding this, not only have been fiscal incentives being revised by the UCGST levels from 18% to 5%, permitting a 100% FDI into our sector and also, the new MRO policy that I have personally unveiled last year ensuring that land and other amenities are available to other sectors at least available cost to ensure the proliferation of the sector in India,” Scindia said emphasising the importance of the Indian MRO industry.

He went on to note that “India today, has a freight capacity of almost 700 planes, we are looking at growing the sector by almost 125 planes per year. Demand of almost close to 1,500 planes over the next decade. India then becomes a flourishing market for the MRO sector not only from the domestic point of view but regional point of view.”

“There are many majors that are setting up shop in India. There are many domestic players that have tremendous potential for growth, and I will urge the MRO industry to think big, think global, act global along with that policy along with that thought we are with you to develop the sector,” Scindia urged those in attendance.

“We are with you to ensure your growth, a sector that has a turnover of greater than close to 2 billion dollars today but we need to onshore most of our work which today is limited to 15-20% share of that market, he reiterated.

“So, let’s pledge during our annual MRO event that we will grow this sector hand in hand. Government and stakeholders all align with one purpose, to be able to service the growing civil aviation market in India,” the civil aviation minister concluded in his address.

I wish you great deliberations and I am confident that through this annual MRO event new thoughts and new ideas will emerge which will help us, the Government and the sector to work together to give new invents to our sector.”


Most Popular

Subscribe to our newsletter

To receive the latest news on Indian aviation and defence.