India needs to go duty free for developing aerospace industry

Singapore: The Indian government will have to lend duty-free support to the country's upcoming but fledgling aerospace industry, which has the world's highest growth potential over the next 10 years, a senior industry observer has said.
"There is an industry-wide concern about Indian customs' import duty policy, which ranges between 60 per cent and 100 percent for bringing in spare parts and equipment for repairing and manufacturing aircraft locally," said C G Krishnadas Nair, President of the Society of Indian Aerospace Technologies & Industries (SAITI).
"It has to be zero duty for this industry," he said, highlighting the projected multi-billion dollar growth of the aviation industry, which would, conservatively, see the increase of aircraft numbers to 900-1,000 by 2020 from 526 as end of 2011.
India would become the world's "most important market" with increase in aviation services including increase of passenger traffic to 500 million people by 2020 from the 100 million in 2011.
The Indians have confirmed orders for 137 business jets in addition to the current fleet of 113 and the helicopter population in the country would triple in five years from the present 260.
17/02/12 ZeeNews

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Categories: Foreign Feb 2012, Indian Aviation- In General Feb 2012