Indian Institute of Management Bangalore organized a panel on India - Aerospace Value Chain here on Wednesday.
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Dr. Klaus Richter, Chief Procurement Officer, Airbus and Airbus Group and Member of Airbus Group Board, said that the chair was founded in 2007 and since then, it has been a long-term engagement at IIMB and it has developed remarkably to become a stable base for organizing conferences and seminars that provides a platform for knowledge exchange.
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Addressing the distinguished audience from across the Industry, the eminent panel which included Sudhakar Gande, Vice Chairman AXIS CADES, Arvind Mehra, Executive Director and CEO - Mahindra Aerospace Pvt. Ltd., Gopi H, Managing Director, ThyssenKrupp Aerospace India Pvt. Ltd., MN Shrinath, General Manager HAL, Aircraft Division, Bangalore, Udayant Malhoutra, CEO and Managing Director, Dynamatic Technologies Ltd., Chris Rao, Vice President and Site Leader, Goodrich India, explored key challenges for the Aerospace Value Chain in India and provided strategic insights into growth, business drivers, constraints and timelines that affects the aerospace value chain in the country. The panelists also outlined the challenges faced at various levels of the supply chain while securing long-term contracts from Airbus and other aerospace OEMs.
Dr. Ishwar Murthy, Dean Faculty, IIMB, earlier welcomed the panel and Dr. Devanath Tirupati, Chair Professor of Airbus Group Endowed Chair for Sourcing and Supply Management, IIMB moderated the discussion.
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"The right time for fielding a supply chain for aerospace is now", said Sudhakar Gande, while adding that India is an important market which should cash in on the cost competitiveness, technology transfer and implement best practices to build the business.
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He further said that the replication of automotive industry's model should be duplicated so that the components can be exported to all parts of the world in the near future.
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Highlighting the challenges, Executive Director and CEO - Mahindra Aerospace Pvt. Ltd, Arvind Mehra said, "India has miles to go, and so, we have to be open to accept technology from outside to provide a world class facility. High investment rate, long gestation period, slow approval processes, long time learning curves and quality of expectations are some of the challenges faced today. He offered a consolidated solution by stating that aerospace companies can start small and rope in local vendors under their umbrella and has a transparent system of interaction".
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"When we compare India with China, we are way behind in terms of manufacturing," said General Manager HAL, Aircraft Division, MN Shrinath, while expressing the importance of grass root level skilled training to deliver identical components.
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"We take globally sourced raw materials and machine it outside, mostly in UK, where the cost of capital is much lower and we place our assemblers in India," said CEO and Managing Director, Dynamatic Technologies Ltd Udayant Malhoutra, adding that we have the best of both west and east, which ensures a 'zero defect and zero risk' performance.
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"Aerospace industry can be the next powerhouse of employment and export for India" said Vice President and Site Leader, Goodrich India, Chris Rao, while focusing on the development of a local vendor base in India. He listed the key features like a dedicated aerospace policy, openings of FDI, special incentives for aerospace industry and setting up of mentoring systems to create an eco-system in the country.
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A common observation by all the panelists was the need to get financial backing from the OEM's and also cash in on the 'Make in India' campaign which opens up enormous opportunities for the Aerospace Industry.