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.