What Happened
European Aircraft Manufacturer Expands Local Sourcing
Airbus plans to increase its annual sourcing of components and services from India to $2 billion by 2030, up from the current $1.6 billion. The company aims to move Indian suppliers up the value chain and is exploring opportunities to source raw materials, including processed titanium and aluminium alloys. According to Airbus President and Managing Director for India and South Asia, Jurgen Westermeier, India is a ‘very important market’ for the company. This development was reported by The Economic Times.