Design and development of smart tooling and precision flying components of aircrafts is all set to get the 'Make in India' stamp by 2019.
Jaivel Aerospace, a UK-based company, which has committed to invest Rs 103 crore over a period of five years in Gujarat is all set to complete its first phase of the project by the end of 2018. The first phase of the three-phase project costs about Rs 20 crore.
The 20,000 square metres manufacturing facility, employing over 350 highly skilled engineers, will be one of the most advanced in India for the design and development of smart tooling and precision flying components.
Geoff Wain, British Deputy High Commissioner, Ahmedabad on Thursday inaugurated the company's engineering and development centre in Ahmedabad. He said that Jaivel Aerospace is an example of UK's continued investment in India. He said that the United Kingdom has made an investment of 21 billion pounds in the last 10 years and created around eight lakh jobs in India. Jaivel, he said, would be a part of the Make In India campaign.
Jaivel Aerospace provides technological knowhow and manufacture parts for both commerical and combat aircrafts, with a reduced manufacturing time.
According to the founder and CEO of the company, Vipul Vachhani, it helps in reducing the cost by 20 to 60 per cent.
The company has an annual turnover of 3 million pounds and with the new facility becoming operational it expects the turnover to rise to Rs 80-90 crore in five years. Majority of the parts produced will be exported, according to Vachhani.
The company is into designing and manufacture of complex hard materials that go into the structure, landing gears and structural components of aircrafts. The company's clients include Boeing, Rolls Royce and Bombardier.
Wain said that after the Brexit was announced, the United Kingdom has invested more in India and they were monitoring the situation ahead of 2019 general elections in India. “India has an important place in the world,” he remarked.