The Indian aerospace and defence industry is one of the fastest-growing aerospace markets in the world with an expanding consumer base comprising defence, airlines, businesses and High Net worth Individuals. The rapid growth of this industry has attracted major global aerospace and defence companies to India. All segments in the aerospace industry, including civil and military aviation and space, are showing a significant level of growth. Presently, in India the aerospace and defence sector has a huge potential with the country ranked as the 10th largest investor globally. The industry is currently undergoing a transition with increased participation from the private sector. The government is taking significant initiatives to develop India as a competent aerospace and defence equipment manufacturing base. India is an attractive low cost manufacturing and engineering service base, offering significant opportunities to both domestic and international players. We believe the air platforms segment to be the most attractive segment in the country over the next decade.