The government has taken several steps to facilitate setting up of aircraft MRO services in India and the value of the total business may go up from USD 2 billion to USD 4 billion in seven years, Civil Aviation Minister Kinjarapu Ram Mohan Naidu said in the Lok Sabha on Thursday.
He also said that, in a major boost to the domestic Maintenance, Repair and Overhaul (MRO) industry and the aviation sector, the government brought a uniform rate of 5 per cent GST on aircraft parts components, testing equipment, tools and toolkits.
"The MRO industry in the country is expected to go up to USD 4 billion in seven years from the present USD 2 billion," he said during Question Hour.
Naidu said if anyone wanted to set up an MRO industry with an airstrip or airport anywhere in India, the Centre was ready to provide all assistance.
He said the country's aviation industry had seen massive transformation and growth during the past 10 years under the Narendra Modi government, with domestic airlines
