Godrej Aerospace is in talks with Airbus and Boeing suppliers to build aircraft parts, according to a top executive at the Indian company. According to Maneck Behramkamdin, associate vice president and business head at Godrej Aerospace, Air India and IndiGo have nearly 1,000 new planes on order, which means 2,000-2,500 engines will require maintenance at some point.

"With so many planes flying into India, Airbus and Boeing will need to beef up their supply chains." Tier two Airbus and Boeing suppliers are now looking at India... we are in talks with them," Behramkamdin said.

There are a lot of opportunities in supplying for the structure of the aircraft and there are also large titanium requirements, he said, adding there will also be demand for maintenance, repair and overhaul of aircraft parts. Godrej Aerospace already exports some key components to engine makers General Electric (GE) and Rolls-Royce (RR.L), Behramkamdin said after a media tour of its plant in Mumbai.

The company expects its civil aviation business to clock revenues of 1 billion rupees ($12 million) in the current fiscal year, making up 35% of Godrej's total revenues, he said in an interview, adding that he expects this to grow to 50% next year.

India has been pushing for indigenous manufacturing as well as local sourcing of components for aerospace and defence, and companies like Airbus and Boeing have recently committed to more local manufacturing and investment.