“Source:- The Hindu Business Line”
Boeing is looking to double its annual sourcing from India to $2 billion in the near future, Salil Gupte, President, Boeing India, said on Friday.
“Currently our annual sourcing from India is around $1 billion. Our goal is to double that over a number of years,” Gupte said, adding that it could possibly happen in the next 5-10 years.
Boeing sources critical components such as aero structures, wire harness, composites and ground support equipment from here. Its suppliers include TAL Manufacturing Solutions and Hyderabad-based Cyient.
Boeing claimed that its investments in India are bolstering aerospace sector, creating jobs and driving innovation.
To a question on the impact of coronavirus on delivery of aircraft to India, Darren Hurst, Vice-President and Global Head, Marketing, Boeing Commercial Airplanes, replied in the negative.
Boeing said that as a result of impact of the coronavirus, airlines in the Asia-Pacific region had cut flights by almost 50 per cent. Officials claimed that the daily departures in China have come down to around 3,000 flights a day as against the earlier 15,000. Similarly, in other parts of Asia Pacific, the number of daily flights dipped to 2,500 from around 5,000 daily departures. Boeing officials claimed that whenever there has been a dip in passenger demand, the bounce back has been faster.
Meanwhile, Boeing has estimated that India will require around 2,500 new commercial aircraft by 2040.