Sourcing by Boeing of Mfg products from India rise six fold to exceed $600 Mn

Bengaluru, Jan 31 (KNN) Global aviation major Boeing is currently procuring goods and services worth USD 1 billion annually from India.

According to Boeing India President Salil Gupte 66 per cent is actual manufacturing and the remaining is software and services, reported The Hindu Business Line.

Highlighting India’s rank as the third-largest civil aviation market in the world, Gupte asserted that the country has huge aspirations to develop.

“India’s manufacturing capability has ‘truly transformed in the last 10 years and the country has been trying to catch up quickly with other geographies that have been on manufacturing journey in the last 50 years,” he added. 

He further explained that manufacturing had grown fourfold in the last six years which became the major chunk of our sourcing. 

India’s aerospace exports are expected to cross USD 5 billion by 2025 from USD 1.5 billion currently. 

Boeing has more than 300 supplier partners, including 70 MSMEs, in India while it has in excess of 20,000 supplier partners globally.  (KNN Bureau)