For an industry globally classified as hazardous, protections such as health insurance and a provident fund for workers are necessities. In Sivakasi, they remain elusive.
The industry forecasts exports are set to grow 16% in 2025-26, boosted by surplus domestic production and a drive to push into 26 underserved global markets with strong potential.
Indigenisation level will progressively increase up to 60 percent with key sub-assemblies, electronics and mechanical parts being manufactured locally.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
So many checks, safeguards, independent directors, professional auditors, regulators, nothing beeped a warning sign till the cheques started bouncing. Ineptitude of the highest order. ILFS’ business model is broken. It will have to be dismantled, without a sense of panic, but with as much urgency in disposal of assets, essentially projects, as a sluggish market can absorb. Most Indian corporates are too stressed out to do much buying. One more painful reminder that Indian infrastructure is a difficult space to navigate.
So many checks, safeguards, independent directors, professional auditors, regulators, nothing beeped a warning sign till the cheques started bouncing. Ineptitude of the highest order. ILFS’ business model is broken. It will have to be dismantled, without a sense of panic, but with as much urgency in disposal of assets, essentially projects, as a sluggish market can absorb. Most Indian corporates are too stressed out to do much buying. One more painful reminder that Indian infrastructure is a difficult space to navigate.