Mumbai: The Hinduja Group on Monday said it is keen to venture into the aerospace business and will make an announcement over the next three months.
“We will announce our plan (to enter the aerospace business) over the next three-four months,” Hinduja Automotive, Executive Vice-Chairman, V Sumantran, told reporters on the sidelines of a conference in Mumbai.
“We see a huge potential in the aviation business. We think this (aerospace) sector will continue to grow” he said.
When asked whether the Group wants to manufacture commercial or defence aircraft, Sumantran said “everything you will know over the next 3-4 months.”
Talking on the likely investment, he said “it is difficult to talk about it now as we are still in the process of deciding the scale of the business.”
Hinduja Group outfit, Defiance Technologies, has already started work on testing and validation for aerospace systems while Ashok Leyland Defence Systems is doing design and engineering for some sub-systems in India.
Another leading conglomerate, the Anand Mahindra-led M&M, is also foraying into the aerospace segment through the acquisition of two Australian companies - Aerostaff Australia and Gippsland Aeronautics.