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Israel Aerospace subsidiary plans defence MRO hub in Gurugram
Livemint
·
1y ago
Medial
Israel Aerospace Industries has launched its Indian subsidiary, Aerospace Services India, as part of the Make-in-India initiative. The subsidiary plans to establish a large-scale maintenance, repair, and overhaul (MRO) hub for defence equipment in Gurugram. Initially, the hub will focus on the medium-range surface-to-air missile (MRSAM) system. This MRO location is expected to create jobs and talent. Aerospace Services India aims to expand beyond MRSAM to other defence programmes and products. The company has been present in India for years and has collaborations with Indian agencies for defence equipment development.
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Tata Group companies sign up with Karnataka for investments of Rs 2,300 crore
Economic Times
·
1y ago
Medial
Tata Group companies Air India and Tata Advanced Systems have signed an MoU with the Karnataka government, proposing an investment of Rs 2,300 crore on various projects. Air India plans to establish a maintenance, repair & overhaul facility, making Bengaluru its MRO hub in south India and creating 1,200 jobs. Tata Advanced Systems has three planned projects, including a gun manufacturing facility and an aerospace and defence research and development center. These projects are expected to add 450 jobs.
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Air India and Tata Advanced Systems commits Rs 2,300 crore investment in Karnataka
IndianStartupNews
·
1y ago
Medial
Tata Group's Air India and Tata Advanced Systems Ltd (TASL) have committed to investing Rs 2,300 crore in Karnataka's aerospace and defence sector. The partnership aims to create 1,650 direct jobs and boost the state's economic development. Air India plans to establish a Maintenance, Repair, and Overhaul (MRO) facility at Bengaluru airport, while Tata Advanced Systems will launch three projects in Karnataka. The investment is expected to strengthen the aerospace ecosystem and benefit over 200 small and medium enterprises in the state.
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T-Hub Launches Funding Programme For Defence And Aerospace Innovation
OutlookIndia
·
8m ago
Medial
T-Hub, a start-up incubator, has launched the SIDBI-T-Hub Funding Programme to support the domestic defence and aerospace sectors. The company has also signed strategic MoUs with key industry players, including KAVACHH, IISSR, BDL, Collins Aerospace, and more. These collaborations aim to facilitate knowledge exchange, technological progress, and create an ecosystem for innovation. The funding programme will bridge the financial gap for emerging start-ups in these sectors, nurturing innovation and addressing national security needs. The National Defence and Aerospace Innovation Summit (DIAS) provided a platform for start-ups to showcase disruptive technologies and pitch ideas to experts and investors in the field.
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French firm Starburst Accelerator SARL partners with IIT Madras to set up €100M Startup Hub
IndianStartupNews
·
1y ago
Medial
French aerospace leader Starburst Accelerator is partnering with Indian Institute of Technology Madras (IIT Madras) to establish an innovative hub for startups in India's Aviation, Space, and Defence (ASD) sectors. The partnership, backed by a €100 million investment, aims to create venture capital funds for ASD technology startups and drive technological innovations in the industry. Through the collaboration, startups will receive support, coaching, and mentoring to scale their businesses in the aerospace and defence sector. The initiative aims to make India a global hub for ASD innovation and support the growth of startups in the sector.
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Andhra CM Naidu Seeks Centre's Support for Rooftop Solar Scheme, Defence Manufacturing Hub
OutlookIndia
·
2m ago
Medial
Andhra Pradesh Chief Minister N Chandrababu Naidu met with three Union ministers in Delhi to seek the Centre's support for the state's renewable energy initiatives, a defence manufacturing hub, and a major water transfer project. Aiming for 20 lakh rooftop solar installations by 2025, Naidu also pitched Andhra Pradesh as a national hub for defence and aerospace. Additionally, he submitted a proposal for the Polavaram-Banakacherla water transfer project to aid drought-hit areas.
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Air India & Tata Advanced Systems to invest ₹2,300 crore in Karnataka
Thehindubusinessline
·
1y ago
Medial
Air India, Tata Advanced Systems, and the Government of Karnataka have signed a Memorandum of Understanding for a ₹2,300 crore investment to develop the aerospace and defense sector in the state. Air India will establish maintenance, repair, and overhaul (MRO) facilities at Bengaluru airport, creating over 1,200 skilled jobs. Tata Advanced Systems will invest in an aircraft modification MRO facility, gun manufacturing, and R&D, generating around 450 employment opportunities. The collaboration aims to boost the aerospace industry and contribute to Karnataka's economic growth.
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Rangsons Aerospace bags funding from PE investor for organic, inorganic growth
VCCircle
·
5m ago
Medial
Rangsons Aerospace, a Bengaluru-based provider of defence and aerospace manufacturing solutions, has secured Rs 300 crore in funding from private equity firm ValueQuest Advisors. The company specializes in precision manufacturing for the aerospace and defence sectors, offering services such as fluid distribution systems, heat exchangers, and complex system integration. This investment is intended to support Rangsons Aerospace's plans for both organic and inorganic growth in the industry.
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Budget 2024: Government eases norms for ship, aviation MRO industry
Livemint
·
1y ago
Medial
The Indian government plans to relax regulations for the aviation and shipping maintenance, repair, and overhaul (MRO) industry in order to establish India as a hub for such facilities and support the transportation sector. The proposed changes include extending the time limit for exporting goods imported for repairs from six months to one year and the time limit for re-importing goods for warranty repairs from three to five years. Experts believe that these changes will boost the MRO industry, enhance operational efficiency, and attract foreign players to India for repairs.
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Former Defence Secretary Dr Ajay Kumar’s VC fund makes first close
YourStory
·
1y ago
Medial
MountTech Growth Fund (MGF-Kavachh), a venture capital fund founded by former Defence Secretary Dr Ajay Kumar, has achieved its first close after surpassing its targeted corpus size. The fund focuses on supporting IP and technology-driven businesses in the defence, space, and national security sectors with the aim of establishing India as a strategic and technological hub. MGF-Kavachh plans to nurture startups working in innovation, space, aerospace, and deep technology fields to contribute to India's self-reliance and strategic needs. The fund's strategy is based on rigorous selection, portfolio construction, an acceleration platform, and strong execution.
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IIT Madras, Starburst To Set Up Accelerator For Aviation Startups
Inc42
·
1y ago
Medial
The Indian Institute of Technology (IIT) Madras has partnered with French aerospace company Starburst Accelerator SARL to establish an innovation hub for startups in the aviation, space, and defence (ASD) sector. With a funding of 100 million euros, the initiative aims to mentor emerging Indian startups and help them raise external capital and accelerate development. The accelerator program will provide business tools for startups to scale up, promote exports, and explore international markets. The collaboration is part of India's efforts to reduce imports of defence equipment and support the indigenous production of defence technology.
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