Centre plans to make India global hub for MRO: FM Nirmala Sitharaman

Sitharaman said that the tax regime for the MRO ecosystem has been rationalised and aircraft component repairs and airframe maintenance will increase from Rs 800 crores to Rs 2000 crores in three years.

Moneycontrol News

May 16, 2020 / 17:12 IST

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Finance Minister Nirmala Sitharaman, on May 16, said that the government had plans to make India a global hub for Aircraft Maintenance, Repair and Overhaul (MRO).

Announcing details of the fourth tranche of the economic package announced by Prime Minister Narendra Modi during his address to the nation, Sitharaman said that the tax regime for the MRO ecosystem had been rationalised and that aircraft component repairs and airframe maintenance would increase from Rs 800 crores to Rs 2,000 crores in three years.

"India has the capacity, manpower and skills; it can be a hub for many flights heading to South-East Asia and westwards," the finance minister said.

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"Major engine manufacturers in the world would set up engine repair facilities in India in the coming year," Sitharaman said, adding that convergence between defence sector and the civil MROs would also be established to create economies of scale.

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