CIVIL AVIATION MINISTER JYOTIRADITYA SCINDIA ON MRO IN INDIA

AT THE RECENTLY HELD Aero MRO India 2022, the Civil Aviation Minister Jyotiraditya Scindia, in his inaugural address said, “The MRO industry in India is an industry integral to the civil aviation industry in India. As civil aviation takes on new wings with 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 the civil aviation sector’s development.”

“Sensing this and understanding this, not only the fiscal incentives been modified by revising GST levels from 18 per cent to five per cent, permitting a 100 per cent FDI to the sector and also the new MRO Policy that I have unveiled last year (2021), ensuring that the land and other infrastructure at the least available cost to ensure the proliferation of this sector. India has a fleet capacity of almost 700 planes, we are looking at growing this sector to almost 125 per year, the demand of almost 1,500 planes by the next decade. India then becomes a flourishing market for the MRO sector not only from the domestic point of view but from the regional point of view.”

“There are many majors setting up shops here in India. There are many domestic players who have tremendous potential for growth, and I would urge our MRO Industry, think big, think global, act global, and along with that policy, the Government is with you to ensure the growth and develop the sector”, the minister added. With the Government’s tremendous support to the Indian MRO Industry, in the coming five years, the MRO industry will be able to grow to a $4 billion market and also reverse the trend of dependency on foreign MRO for our work.