Neelam Mathews
Aug 18, 2012
Who says doing business in India is a
breeze? However, the penchant to hurt our own industry is fast becoming a
habit. Take MAS GMR Aero Technic launched early this year with an investment of
Rs 350 crore, now believed to be looking at exiting the business, according to
Aerospace Diary's global sources.
While a spokesman for the
company has denied this, saying: “We’re a startup company in our first year-
naturally there will be hiccups….” He also refused to give us a projection of
expected targeted business for the next few years adding: "That's a
strategic decision for the top level management (to address?)"
Another denial from GMR has
just come in. "GMR Group is an established and reputed business entity,
acknowledged across the globe. We would like to strongly deny the comment put
in as a query. There is no such move of MAS GMR exiting the MRO business.”
Whether GMR holds back its
precious asset or not, the fact remains- nobody is listening as precious
dollars are wrenched away by foreign companies. How ludicrous can any country’s
planning be that it doles business by imposing high taxes in its own country to
feed foreign competitors. And we talk about billions of dollars MRO companies
can contribute. Has somebody thought- who and where are those elusive
companies? And if they are not setting up shop, why not?
For MAS-GMR that has
invested in three hangars, an EASA certificate to repair 50 components and over
200 engineers and technicians, what message are we giving to future investors?
Please keep away. We’re too arrogant and not open to business.
Harsh words. But the truth
as it is now.
Our motto is to outsource to source prosperity of other nations!
ReplyDeleteIts the national esprit-de-corps!
I agree to the strange Indian Govt. policies, that at one point they can afford to talk about low GDPs and at the same time they can afford to have such stringent tax policies
ReplyDelete