It is said that growth begets growth. India’s GDP growth has had a strong link with the growth of country’s aviation sector; every one percent increase in GDP translates itself into a two percent growth in the aviation sector. India’s increasing GDP growth rate, has spurred continuing large increases in its aviation sector growth. Presently India is the fastest growing civil aviation market in the world.
This growth has thrown open the opportunities in another sector, the Aviation maintenance sector. The Government of India’s emphasis on indigenisation in manufacturing has shifted the focus on the opportunities in the aviation maintenance sector, which has not grown commensurately. It is estimated that each aircraft requires 7 aircraft engineers and with the right talent available in India, India has all the credentials to become the maintenance, repair and overhaul (MRO) hub in Asia.
STAT Times, which has been witnessing this growth prospect from the vantage point of the Aviation media has embarked upon focussing the attention on this sector with a view to enabling India realise the full potential in this sector by organising international event, “Aerospace & Defence MRO South Asia Summit” in New Delhi, India.
In his Message commending the efforts of STAT Times, Jayant Sinha, Hon’ble Minister of State for Civil Aviation, Government of India said, “there is a remarkable business opportunity to develop MRO capabilities within India following the massive anticipated increase in demand for both civilian and defence aircraft. Developing indigenous maintenance capabilities will save precious foreign exchange for our country and also will boost manufacturing activities within the country, which is the aim of the ‘Make in India’ programme initiated by our Hon’ble Prime Minister”.
India’s Ministry of Civil Aviation (MOCA) has made several provisions in its recent budget towards achieving this objective: exemption from customs duties, improved clearance processes for imported parts and components, and enabling the facilitation of appropriate visas and temporary landing permits.
The main theme will focus on the opportunities that these initiatives have created in the context of the fast changing dynamics of Aviation industry.
About the event: Aerospace and Defence MRO South Asia Summit 2019 is the second two day summit organized by STAT Times following the success of the launch event in January 2018. The launch event was supported by Air India Engineering Services Limited (AIESL). The conference also had partners Ultra Aerospace, Ramco Systems, Compass Law Associates, and Avion World.
Participants in the launch event:- Air India Engineering Services Ltd.(AIESL), Boeing ,Ultra Aerospace, Ramco, Compass Law Associates, Airport Authority of India, Aeronautical Society of India, Indian Air Force, Airbus, Air Vistara, IIT Mumbai, Stelae Technologies, Rollls Royce, Cyril Amarchand Mangaldas, Balmer Lawrie, Indian Railways, Blue Dart Aviation, KPMG, Max Aerospace, AAR Corp. STS Component, Henkel Adhesive Tech., ASSA ABLOY Entrance, IBS Software Services, Honeywell Corporate, Vector Aerospace Engine Services, Hawker Pacific,MARPOSS INDIA Pvt.Ltd. Reheat International Ltd., Chapman Freeborn, Inter Freight Pvt.Ltd, MAG Engine Systems Pvt. Ltd, FL Technics, Wipro Aerospace.
About the Organiser:- STAT Times, the organiser of 2nd Aerospace & Defence MRO South Asia Summit, is a multimodal international transport media established in 1986 engaged in the dissemination of news with a special focus on aviation for over three decades now. STAT Times has also been organising now very popular international biennial air cargo events s AIR CARGO INDIA & AIR CARGO AFRICA.