An Abu Dhabi government-backed investor with $24 billion (Rs1.12 trillion) in assets, Mubadala Development Co. plans to enter India’s aerospace market by next year and is in talks with several potential partners, including the Tata group.
The company has stakes in the US-based Carlyle Group and Zurich-based SR Technics. Along with Tata Ltd, the UK arm of the Tata group, it is also a one-third partner in Italian aeronautics firm Piaggio, which specializes in producing business jets, engine parts and structural components.
It now wants to shift part of the manufacturing for Piaggio business jets to India, where they will be cheaper to build than Italy, said Homaid Al Shemmari, executive director for aerospace at Mubadala."
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