India is set to become a global hub for aircraft components manufacturing with a market size of $29.5 billion by 2033, a whitepaper launched by the B2B manufacturing startup Venttup has said.

Driven by government initiatives like Make in India and Atmanirbhar Bharat, many SMEs are looking to invest in skilled manufacturing such as precision engineering, composite materials and semiconductors design and manufacturing.

Global majors like Airbus and Boeing have announced partnerships with Mahindra and Tata to set up manufacturing operations in India. The Prime Minister also has presented a strong pitch to position India as a global hub for MRO with an aim to become a $4 billion MRO hub by 2030, according to the whitepaper.

The paper titled ‘Building India’s manufacturing momentum,’ launched at the recently concluded Kerala Innovation Festival said the country is taking all the right steps to accelerate the manufacturing sector’s growth.

India must revamp its ITIs, modernising curriculum to align with current and future industry demands. Structured apprenticeship programmes, PPP should be encouraged to establish CoE focused on critical skill development areas like robotics, CNC operations and smart manufacturing technologies, the paper recommended.

The advent of cloud manufacturing or MaaS has the potential to bring global buyers to Indian MSMEs. Currently, MSMEs contribute 45 per cent of the country’s exports. However, most of the MSME led manufacturing establishments employ minimal workforce and use obsolete machinery and they lack project management, lack of tech integration in workflows.

Sanddep Nair, Co-founder & CEO, Venttup said “with this whitepaper, we have attempted to highlight the strength areas where India has the leverage, manpower and the know-how to grow into a strong manufacturing destination for global buyers and provided recommendations on how this shift can be accelerated with the help of technology.”

Published on July 30, 2025