A 10-member delegation from the Indo-American Chamber of Commerce (IACC) today visited Aequs SEZ in Belgaum, Karnataka. The delegation, headed by Rabindra Srikantan, Chairman IACC, toured the facilities and held discussions on the capabilities, investment benefits and tax exemptions in the SEZ. The 250-acre Aequs SEZ, India’s first precision engineering special economic zone, is an integrated aerospace manufacturing ecosystem that houses several interrelated capabilities that are either unavailable in India or difficult to come by.
In addition to the Aequs manufacturing facilities, Aequs SEZ hosts Aerospace Processing India, a joint venture between Aequs and Magellan Aerospace of Canada; SQuAD Forging India, a joint venture between Aequs, Setforge and Aubert & Duval of France; and Aerostructures Assemblies India, a joint venture between Aequs and Saab AB of Sweden. Such global partnerships have helped Aequs to supply components, parts, and subassemblies to global aerospace majors. Aequs is among the first Indian private sector players to supply parts to both Airbus and Boeing.
Commenting on the visit, Aravind Melligeri, Chairman & CEO of Aequs said: “The ability to offer full sub-systems or assemblies to global aerospace entities is a vital factor in turning India into a major aerospace outsourcing hub. By creating the right infrastructure with a well-trained talent pool, it is possible for India to position itself as a leading global aerospace hub with a low cost advantage. You need to have a well-conceived aerospace ecosystem at a single location to deliver custom built hardware and that is what we are working towards providing at the Aequs SEZ.”
Explaining the visit and discussions, IACC Chairman Rabindra Srikantan said:”Aerospace and defense manufacturing and service industry has come of age in India. IACC formed an Aerospace & Defense Forum in 2011 and we have been actively encouraging Indo-US collaboration to further growth in this sector. Several US aerospace majors are looking towards India. There is a growing base for manufacturing several aircraft components such as aircraft doors, landing gears, window glass and cables from India. It is but natural that we speak to a growing company like Aequs that is making significant strides in setting up such a world class ecosystem within the country.”
Outsourcing of aerospace manufacturing to India is poised for rapid growth as global OEMs widen their supply chains to take advantage of low cost manufacturing in emerging markets.