Login With Google
Aero components sector
Why is it in news?
- According to Defence Ministry, the aero components sector in the country is set to double from ₹30,000 crore today to ₹60,000 crore by 2024.
More from the Ministry:
- The government’s endeavour to bring down defence imports by at least $2 billion by 2022 would remain.
- Between 2016 and 2019, 138 proposals worth over $37 billion for domestic manufacturing had been approved.
- India has a great potential to emerge as a global and regional Maintenance, Repair and Overhaul (MRO) hub.
- The aerospace sector has an important role to play, if we have to reach our targets of domestic defence production of $25 billion and exports of $5 billion by 2025.