The Indian small and medium enterprise (SME) sector's participation and role in the field of aviation and aerospace component manufacturing is far behind its global counterparts, according to industry players.
There are about 25 to 30 SMEs who have taken the business for manufacturing aviation and aerospace component seriously. "It is a long term investment for them. It is highly capital intensive industry. I definitely believe there can be many more of them," said Country Head of UTC Aerospace Systems, Chris Rao.
"This is a reason why Indian aviation and aerospace component industry is far behind in terms of growth in comparison with the global growth rate. It is a USD 930 billion industry globally and India’s share is not even half the percentage. We want India to at least catch up to 10 percent of the global growth in the near future," he added.
When asked what kind of challenges these SMEs are facing in manufacturing aerospace and aviation components, he said that SME sector's participation in the component level manufacturing is poor.
14/01/13 Namrata Kath Hazarika/SME Times
