United Tech in talks for five JVs

United Technologies India, the Indian subsidiary of the $54.3 billion global defence and aerospace major, today said it is in advanced stages for floating five joint ventures for engine component manufacturing. The move is aimed at tapping the airspace sector in the country.

Vivek Saxena, Country Manager, Pratt and Whitney, a United Technology company that designs and manufactures aircraft engines, said these joint ventures were expected to be floated in a year’s time, with one of them set to be announced soon. The joint ventures would help it gain operational control and also help it develop the standards of its suppliers, he said.

The company at present has 16 aerospace suppliers in the country. “The idea is to develop an aerospace eco-system,” by developing aerospace capabilities in India, Saxena said. It is also expected to increase its headcount in Bangalore from 50 to 80 in the next two years,” he added.

The company would hire project managers and those who could develop the local aerospace suppliers to reach international standards, he said. The biggest hurdle, he said, was the lack of expertise in the manufacturing sector.

To bridge the skills gap, the company is seeking to collaborate with top academic institutions, he said. It has set up manufacturing collaborations with top schools aimed more at building pipeline of people. It would look at offering paid internship programmes and training to students. The company also intends to hire local talent, Indians returning from abroad and expats to bridge the deficit, he said.