The Indian aerospace and defence (A&D) market is among the most attractive globally and the government is keen on promoting investments. Yet, doing business in India remains a challenge both from demand as well as supply perspectives. In the military sector, there exists uncertainty related to the regulatory regime and an unpredictable demand with frequent cancellation of tenders. The civil sector, where private airlines have now created a large and growing market, is still struggling with issues of profitability. The expansion of the aviation industry into the fabric of the country through the creation of smaller airports is still in its early stages, while the MRO industry where India coul