New Delhi. 20 May 2024. Airbus Helicopters and Small Industries Development Bank of India (SIDBI), the Government of India’s principal financial institution for promoting, financing and developing the Micro, Small and Medium Enterprise (MSME) sector, have signed a Memorandum of Understanding (MoU) for financing the purchase of Airbus’ helicopters in India.
The MoU was signed by Rahul Priyadarshi, Chief General Manager, SIDBI and Sunny Guglani, Head of Airbus Helicopters, India and South Asia. Under the MoU, both Airbus Helicopters and SIDBI will identify potential civil helicopter operators in India who are interested in financing solutions for purchasing Airbus helicopters. Airbus will provide the technical and helicopter industry knowledge to SIDBI who will evaluate these prospects and finance them exclusively for Airbus.
“The MoU with SIDBI opens a new chapter in making civil helicopters more accessible to operators in India, which will further position these rotary wing aircraft as a critical tool for nation building. Combining our unmatched product portfolio and industry expertise with SIDBI’s attractive financing solutions will play a pivotal role in the expansion of the civil helicopter market in India,” said Sunny Guglani, Head of Airbus Helicopters, India and South Asia.
Speaking on the occasion, Rahul Priyadarshi, Chief General Manager, SIDBI, said, “This a new area for financing to helicopter operators by SIDBI and is expected to open new avenues for financing MSMEs related to this segment.”
This collaboration marks a significant foray of SIDBI into helicopter financing and meeting the financial and development needs of India’s fast-growing rotary wing sector.
Small Industries Development Bank of India was established under an Act of the Parliament in 1990. SIDBI is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the MSME sector and coordination of the functions of the various institutions engaged in similar activities. SIDBI aims to emerge as a single window for meeting the financial and developmental needs of the MSME sector to make it strong, vibrant and globally competitive, to position SIDBI Brand as the preferred and customer – friendly institution and for enhancement of share – holder wealth and highest corporate values through modern technology platform.
