India Courts Aerospace Investments with Special Economic Zones (SEZs)
India is set to have three dedicated special economic zones (SEZs) for aerospace in the next five years, just as global aerospace and defence majors stepped up outsourcing to India to meet local demands and cut costs.
According to Pricewaterhouse Coopers, India received the largest number of foreign investments in aerospace research and development in 2000-08. Also, India received the highest number of investments in aerospace manufacturing after China.
There are high level of discussions in the Government to promote Aerospace SEZs to fuel the growing market for military and passenger aircrafts, need for repair and maintenance units and consequently local development of aircraft.
Apart from the tax incentives and generation of local jobs by means of these large SEZs, the government is studying the requisite large capital commitments and long-term commitments that may be required by the companies in the aerospace business.
Based in Mumbai, Prashant Salvi is NAI Global’s Regional Director for India.
About the author
Scope of Service Experience Prashant comes to NAI with 10 years of commercial real estate experience. In his role at NAI he is responsible for membership and cross border/regional business development growth in India. Education Somaiya Institute of Management Studies and Research (SIMSR) Specialization : Finance B. N. Bandodkar College of Science - Bachelor of Science in Physics St. John The Baptist Junior College of Science & Commerce Background & Experience Prior to joining NAI, Prashant has worked for Inorbit Malls where he planned and executed the leasing strategy for over 3.5 million square feet of real estate assets across India. He also helped to forge strategic alliances with retailers. Prashant has also worked for Debemham Tie Leung (DTZ) International Property Advisers, A Staubach Company where he advised multinational and Indian companies on their Indian real estate development/disposal strategies. Prior to that, Prashant worked for Colliers building land resources for Colliers in Western India. He was involved in local business development, forging long-term relationships with clients and tenant/landlord representation. Professional Affiliations & Designations Recommended by N.C.C (Naval) Mah. Bat. to join the Combined Defense Services, Direct Entry Commissioned Officer through the Services Selection Board – Bhopal, in 1993. Significant Transactions • Signed 150 leases in 12 months, excluding Anchor Transactions across Vashi & Cyberabad projects • Completed over 100 nos of final agreements executions and registrations for Vashi - Navi Mumbai project • Leased approx 80% of the total GLA (0.75 mn sft) for Cyberabad Project in 12 months • Select first time International / National & Local brands signed @ Inorbit : McDonalds, Ives Rocher, Air & Co, Falafel, Bhagat Tarachand, Waterfront, 10 Ds, Chutneys, Lacoste, Estee Lauder, Clinique, Only Shirts, Jumbo Electronics, Westside, Axiom etc. • Valuation & Feasibility study of a 60 acre IT SEZ project in Pune and a 72 acre Multi-product SEZ in Chennai for a Foreign Real Estate Fund. • Buy Side Representation for Two SEZ projects – Pune & Chennai respectively • Industrial Location advisory conducted across North India, Western region & South India for Terex Corporation • Acquisition of 100 acre Industrial Land for a Heavy Engineering Multinational to set up its first manufacturing plant in India. • Sell Side Representation – Private Equity Funding for a Large Indian Developer for his projects across Western India. ( Ongoing, approx. deal size USD 24 Mn ) • Won Exclusive agency mandate of Hindustan Lever, and sold their industrial land admeasuring 120,000 sq.ft in Mumbai in record time for an optimal price • Successfully acquired a 10 acre Industrial site from Govt. Of Maharshtra in Mumbai for OMYA Asia Pacific (World Leader in Calcium Carbonate manufacturing) to set up their first plant in India. • Won exclusive mandate and sold excess Land asset for Asian Paints India Ltd. in Mumbai for highest price • Sold 06 acres Land owned by Marico Industries through Tender bidding process. • Concluded large size office leasing transactions for ABN Amro Bank and Ocwen Financial Corpn. in Mumbai. • Single point of contact for DHL Danzas and Menlo Worldwide as Key Account Manger. Assisting both in • Relocation analysis and site acquisitions to set up new facilities in Mumbai and Pune.
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