Mumbai: On the heels of tying up with Tatas for an aerospace manufacturing joint venture and two other supply contracts since January, Boeing Corporation said it is keen to pick up equity in more companies in the sector but cited the cap on FDI as the biggest put-downer. “We are keen to invest more here in the manufacturing sector. We are looking at picking up equity in more companies in the aerospace area as our business philosophy is to co-create and help innovation,” Boeing India president Pratyush Kumar said.
While last week, Boeing inked a JV agreement with the Tatas, in February, it had roped in Bharat Forge and Dynamite Technologies as contractors for supplying critical components. Stating that the company is keen to manufacture here, but for the 26 per cent cap in foreign direct investment in the sector, he said,
“If the rules change, we are keen to enter. But even with the current cap, we are keen to partner with companies here.” Mr Kumar was taking to reporters on the sidelines of a function to launch the Advanced Machining Excellence Cell (AMEC) at IIT Bombay's National Centre for Aerospace Innovation and Research (NCAIR). The AMEC, inaugurated by Boeing Research & Technology VP Greg Hyslop, will help create a world-class aerospace manufacturing ecosystem in the country.
