The city, which is so far known as city of manufacturing sports goods and hand tools would soon add another feather to its cap, as a young entrepreneur from Jalandhar, Sanat Gupta, 27, is all set to set up an aerospace and defence parts manufacturing unit in Jalandhar.
Inspired by initiatives taken by the Punjab government asking the new players to establish their business and the Make in India campaign of the Prime Minister Narendra Modi-led government at the Centre, Gupta, director and promoter of Vin Aero Industries Limited, has already signed an MoU with the Punjab government for setting up an aerospace and defense parts manufacturing unit, a the first of kits kinds in the state.
Sanat is a born businessman as his father is the owner of famous Alaska Group of Industries in Jalandhar that manufacture various rubber parts, and he is currently running an export business in England.
The idea of venturing into the defence and aerospace industry is actually of his elder brother Anish Gupta, the second director of Vin Aero Industries Ltd and a senior engineer working already in USA in the same field. Anish is having the experience of working with Bombardier, Wichita, USA as production engineer.
“Since my elder brother has the huge experience in this sector as he is working in USA in this field from last five years, we have high hopes for setting up the Aerospace and defense parts manufacturing industry in Punjab. Since we already have a land in Jalandhar, we plan to start the plant in our native city,” said Sanat, while sharing his plans.
An MoU in this regard was signed between Vin Aero director, Sanat Gupta and Punjab additional chief secretary (industries and commerce) Karan Avtar Singh on the first day Punjab Investment Summit recently held in Mohali.
“There is a huge scope in this sector as in India our 90% of the work relating to the maintenance, repair and operations of the aero and defence products are done in foreign countries. Take the example of Indigo, whose airplane fleet is repaired in Sri Lanka, as in our country the industry is yet to be flourished,” states Sanat.
In north India, there are only one or two players working in this field with relatively big number in South India. “That’s why being a border state, we see huge potential in Punjab,” said Sanat.
Notably, inviting players for setting up of defence and aerospace business was the major attraction in the Investment Summit and a special session on prospects of defence investment in India- after the hike in FDI cap, was chaired in the summit by aerospace design major Lockheed Martin, CEO of Phill Shaw company, a big name in aerospace sector.
The initial cost of investment for the first plan in Jalandhar has been pegged between Rs 8-10 crore, excluding the value of land, says Sanat, who is confident of getting licence to deal with the aero and defence business, after completing the mandatory formalities.