Mumbai: The MRO Association of India (MAOI) has urged the ministry of civil aviation for urgent attention to the dwindling maintenance, repairs and overhaul (MRO) industry. Declaring the industry’s present state as “critical”, the MAOI has written to the ministry to offer the Indian MRO a fair chance to compete with foreign MROs that enjoy a favourable import tax policy of the government.
The MAOI has stated that lopsided tax policies, after the introduction of the Goods and Service Tax (GST), have led to 90 per cent of the MRO requirements of India being imported, causing severe loss to the MRO industry and tax revenues.
“The Indian MRO business has been on a gradual decline and for the first time in history, has registered negative numbers this year. We cannot stress enough on the plight of our industry and are hoping for government intervention before it’s too late,” said Bharat Malkani, president of MAOI.
The association has highlighted that the Indian tax regime has been benefitting foreign players while putting domestic players at a disadvantage.
24/11/18 Asian Age
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The MAOI has stated that lopsided tax policies, after the introduction of the Goods and Service Tax (GST), have led to 90 per cent of the MRO requirements of India being imported, causing severe loss to the MRO industry and tax revenues.
“The Indian MRO business has been on a gradual decline and for the first time in history, has registered negative numbers this year. We cannot stress enough on the plight of our industry and are hoping for government intervention before it’s too late,” said Bharat Malkani, president of MAOI.
The association has highlighted that the Indian tax regime has been benefitting foreign players while putting domestic players at a disadvantage.
24/11/18 Asian Age
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