ET reported that the Hinduja Group is keen to venture into the aerospace business and will make an announcement over the next three months.

Mr V Sumantran EVP of Hinduja Automotive said that "We will announce our plan to enter the aerospace business over the next three to four months. We see a huge potential in the aviation business. We think aerospace sector will continue to grow."

When asked whether the group wants to manufacture commercial or defense aircraft, Mr Sumantran said that "Everything you will know over the next 3 to 4 months".

Talking on the likely investment, he said that "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 Defense 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.

(Sourced from ET)