India's First Aerospace SEZ Launched by QuEST Global
QuEST Global, the world top ranked Aerospace and Engineering group, today introduced to India the country's first ever Special Economic Zone for "development and manufacture of aerospace precision engineering products". The move is being seen in a much positive light by experts and Union Minister of State for Civil Aviation Praful Patel has been quick to call it the "modernization of the aerospace industry in India".
The SEZ was inaugurated by Patel who asserted that India was now ready to emerge as a key global destination in the field of aerospace engineering, after already establishing a major foothold in the IT and engineering departments.
"Had India not notched up a faster growth in aviation sector and acquired a large number of aircraft, its capability in aviation engineering would not have been noticed. The offset clause of defense and civilian aircraft purchases had also helped foreign majors to look at us", said Patel.
The aerospace SEZ has been built with an investment of Rs. 150 crore and spans an area of 300 acre.