Airbus will increase sourcing of components from India: CEO Guillaume Faury

Airbus will increase sourcing of components from India, which offers plenty of opportunities, according to the aircraft maker's CEO Guillaume Faury.

The European major, which has bagged huge aircraft orders from IndiGo and Air India, doubled its sourcing of components and services from India to 1 billion euros during the period from 2019-2024, he said.

The company has more than 100 suppliers in India.

At a press briefing in the national capital on Monday, Faury, who is also the Chairman of the French Aerospace Industries Association (GIFAS), said there are plenty of opportunities in India.

"We will be continuing to grow (sourcing of components)... We will continue to double around every 5 years, that is in the next decade to come. It is a stable pace," he said.

In 2023, for the first time, there was more equipment to be placed on aircraft, helicopters than IT services. The lines have crossed, he added.

Companies that are part of GIFAS make procurement worth USD 2 billion annually