IndiGo Ventures takes flight with first close of its fund at Rs 450 crore; makes debut investment in Jeh Aerospace
This is IndiGo Ventures' first investment in Jeh Aerospace, a Hyderabad-based startup reimagining aerospace component supply chains through precision engineering, cost-efficient manufacturing, and seamless digital integration.
In August last year, IndiGo Ventures, launched with regulatory approval from SEBI to raise Rs 600 crore, is focused on investing in early-stage startups driving innovation in aviation and allied sectors.
The fund targets companies at the pre-Series A to Series B stages, with an emphasis on long-term strategic alignment, the company said in a release.
This first close and investment marks a significant step in IndiGo's broader innovation agenda—combining operational expertise with capital to empower entrepreneurs solving critical challenges in aerospace and related domains.
Coinciding with this milestone, the firm has also approved its first investment in Jeh Aerospace (for an undisclosed amount), one of the fastest-growing aerospace startups focused on high-precision aerospace and defence manufacturing.
Within its first year of operations, Jeh Aerospace has scaled to a 100-member team of specialised engineers and technicians, delivered 100,000 flight-critical aeroengine components and precision tools meeting AS9100 standards, and secured $100 million in long-term contracts with global aerospace companies.
Pieter Elbers, Chief Executive Officer at IndiGo, said: 'Through IndiGo Ventures, we are excited to partner with Jeh Aerospace, a homegrown brand that shares our vision and spirit of strengthening the Indian aviation ecosystem. This investment also strengthens the Indo-U.S. aerospace ties, advances Make-in-India and accelerates innovation, contributing to realising India's potential to become a global aerospace and aviation hub.'
Vishal R. Sanghavi, Co-founder & CEO, Jeh Aerospace, said: 'This investment empowers us to scale production capacity to meet growing demand from our global customers, ensuring flawless, on-time delivery of high-precision components'.
Despite India being one of the world's fastest-growing aviation markets, the country is still a small player in the global aerospace manufacturing industry, highlighting a significant gap in domestic manufacturing capacity.
Jeh will deploy the investment to scale its advanced digital manufacturing infrastructure, enhance its AI-driven production optimisation and deep supply chain integration platforms, and attract world-class engineering and production talent.
Founded by industry veterans Vishal Sanghavi and Venkatesh Mudragalla—alumni of Tata's aerospace joint ventures with Boeing, Lockheed Martin, and Sikorsky—Jeh Aerospace combines deep sectoral expertise with sharp operational execution.
UNI KNR RN
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
42 minutes ago
- Time of India
3 years gone, but bus station revamp project yet to start
Ghaziabad: A plan to modernise three of Ghaziabad's busiest bus terminals — Kaushambi, Sahibabad, and Old Bus Adda — has been hit by repeated delays and will now be completed by 2028, four years past the original target. Proposed in 2021 by Uttar Pradesh State Road Transport Corporation (UPSRTC), the project was meant to give depots an airport-like upgrade, including automated ticketing, digital information systems, AC lounges and enhanced security measures to offer passengers a modernised, comfortable experience. Together, the three depots operate around 800 buses daily, half of which run on long-distance routes to cities like Lucknow, Prayagraj, Gorakhpur, and destinations in Bihar and Uttarakhand. Yet, progress on the Rs 484-crore revamp remains minimal. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida "Except for Old Bus Adda, where groundwork began a few months ago, work at Kaushambi and Sahibabad hasn't started," a senior UPSRTC official told TOI. "The entire process, from procedural delays to environmental clearances, has pushed timelines significantly." Kaushambi depot, spread across 24,284 sq metres, is to be redeveloped at an estimated cost of Rs 261 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Most Beautiful Women In The World Undo Sahibabad depot, covering 15,000 sq metres, is projected to cost Rs 161 crore, while the 10,000 sq metre Old Bus Adda depot will be revamped for Rs 62 crore. The revamped Kaushambi terminal is to be linked with Sahibabad and Old Bus Adda with Ghaziabad rapid rail stations to streamline multimodal transport. These three terminals are among 23 across the state selected for overhaul. The terminals are being developed under a PPP model. Tenders were floated in Dec 2022, and one firm was selected for all three projects. But delays in environmental approvals, clearance from the forest department required to cut down 25 trees at Kaushambi depot, has held up execution. A UPSRTC official said funds were deposited under CAMPA, or Compensatory Afforestation Fund Management and Planning Authority, for clearance, but the wait has dragged on. Complicating matters further is the logistical challenge of relocating operations during construction. "UPSRTC had initially considered shifting bus operations from Kaushambi to Arthala, but that plan didn't materialise," the UPSRTC official added. "We are now exploring temporary relocation to Anand Vihar Bus Terminal."
Time of India
42 minutes ago
- Time of India
Using UPI data, govt cracks down on unregistered traders to boost GST revenue
Bengaluru: In a significant move to increase tax collections, the govt has begun using Unified Payments Interface (UPI) data to identify traders, especially those accepting payments via QR codes, who have evaded goods and services tax (GST) registration. After analysing UPI transactions, the commercial taxes department recently issued notices to some 14,000 traders. Officials say these individuals have crossed the mandatory GST registration thresholds but failed to register. Under GST rules, traders selling goods with an annual turnover above Rs 40 lakh or offering services above Rs 20 lakh are required to register. Those with turnover below Rs 1.5 crore can opt for the composite scheme, paying 1% tax without availing input tax credit. Vipul Bansal, commissioner, commercial taxes, said the crackdown is not just about revenue but fairness. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru "While the drive would help us ramp up tax revenue, the main objective is to get those who evade taxes to pay up. They too should abide by the law. It is also fair to those who are already paying tax," Bansal said. Currently, the state has about 10.3 lakh traders registered under GST. Officials estimate that at least another one lakh will be added through this enforcement drive. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like What Is a Family Trust, and How Do You Set One Up? SmartAsset Learn More Undo This move is seen as critical to meeting the govt's ambitious commercial tax target of Rs 1.2 lakh crore this fiscal. So far, only Rs 26,241 crore has been collected, indicating a 13% shortfall. Taxing unregistered businesses could yield an additional Rs 10,000 crore. However, the enforcement has caused concern among small business owners, particularly grocery stores, bakeries, and vegetable vendors. Many have reported being asked to pay tax arrears dating back to 2021, with liabilities ranging from Rs 40 lakh to Rs 50 lakh — amounts they say are unmanageable in one go. "The govt's move is welcome and its intent unquestionable," said trade activist Sajjan Raj Mehta. "But it should not lead to harassment from tax officials as most traders tracked through UPI are small businessmen. The govt should be considerate to them." Traders argue that not all UPI transactions reflect business income, citing personal payments and fund transfers. However, officials say only traders receiving over Rs 40 lakh through UPI were targeted, and that these digital payments likely underestimate total turnover, which could include cash and card sales as well. BT Manohar, a member of Karnataka State GST Advisory Council, emphasised the need for fairness. "The drive has spread awareness among traders about GST rules and there is no denying that those liable must pay tax," he said. "If there are personal payments through UPI other than business transactions, then traders should be given the opportunity to present their case." The govt has clarified that hawkers and sales of exempted goods like bread will remain outside the GST ambit. Only sales of taxable goods, including items attracting 5% GST, including condiments will be scrutinised, besides those falling under the higher slabs. Bansal added: "The govt is ready to give traders a fair hearing and help them if their cases are genuine. The law allows traders to pay tax arrears in instalments and we will provide all possible help and support to them."
Indian Express
an hour ago
- Indian Express
Indian fertilizer firms sign pacts for yearly import of 3.1 mn MT of DAP from Saudi
Three Indian fertilizer companies — IPL, KRIBHCO and Coromandel — have signed agreements with Ma'aden, the Saudi Arabian major, for importing 3.1 million metric tonnes of Diammonium Phosphate (DAP) per annum for five years from 2025–26. The agreements were signed during Chemicals and Fertilizers Minister JP Nadda's visit to Dammam and Riyadh between July 11 and 13. Saudi Arabia is a major source of India's fertilizer imports, and Ma'aden is a leading producer. In 2024–25, India imported 19.05 LMT of DAP from the kingdom, a 17 per cent increase over 16.29 LMT during 2023–24. 'With the signing of these long-term agreements for DAP, the supply of DAP will enhance to 30 LMT from FY 2025–26 onwards,' said an official statement. According to officials, Nadda's visit to Saudi Arabia focused on enhancing bilateral cooperation in the field of chemicals and fertilizers. He led a delegation that included the secretary and other senior officials from the Department of Fertilizers and Ministry of External Affairs. On the last day of his visit, Nadda held discussions with the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al Khorayef, in Riyadh on mechanisms to strengthen partnerships in the fertilizer, petrochemical and pharmaceutical sectors. 'The two Ministers also witnessed the signing of Long-Term Agreements between Ma'aden and Indian companies—viz. IPL, KRIBHCO and Coromandel Fertilizers & Chemicals Co.—for supply of 3.1 million MT of DAP fertilizer per annum for five years from 2025–26 onwards, with further extension of five years with mutual consent,' said a statement. 'Both sides underscored their commitment to broadening the scope of bilateral relations to include other key fertilizers such as Urea along with DAP and NPKS, aiming to further ensure India's fertilizer security. Discussions were also held on facilitating mutual investments, with a focus on exploring opportunities for Indian Public Sector Undertakings (PSUs) to invest in the Saudi fertilizer sector, and reciprocally, Saudi investments in India,' the statement said. 'Additionally, the leaders deliberated on avenues for collaborative research, especially in developing India-specific customised and alternative fertilizers to enhance agricultural productivity and sustainability. In addition, a joint team has been set up, led by the Secretary (Fertilizer) on the Indian side and the Vice Minister for Mining Affairs in the Ministry of Industry and Mineral Resources on the Saudi side, to explore long-term collaboration in this sector,' it added. During his visit, Nadda also held a bilateral meeting with Prince Abdulaziz bin Salman Al Saud, Minister of Energy, Kingdom of Saudi Arabia and co-chair of the Economy and Investment Committee of the Strategic Partnership Council between India and Saudi Arabia, on ways to enhance the economic partnership between the two countries. The Prince also hosted a lunch in honour of Nadda. Nadda also met Abdulaziz Al-Rumaih, Saudi Vice Minister of Health in Riyadh on July 13. 'They discussed ways to enhance cooperation in the medical sector, health services, pharmaceuticals, digital health solutions, and knowledge exchange,' said the statement. In this context, they noted the significance of the bilateral MoU on Health signed during the recent State Visit of Prime Minister Narendra Modi to Saudi Arabia. Nadda 'highly' appreciated Saudi Arabia's support to Indian pilgrims during Haj 2025 and discussed medical arrangements for the forthcoming Haj 2026, as per the statement. On the second day (July 12) of his visit, Nadda, along with the accompanying delegation, visited Ma'aden facilities at Ras Al Khair and had a tour of the phosphate production plant. 'They were received by Mr. Hassan Al Ali, Chairman, Ma'aden Phosphate, and other senior officials of Ma'aden,' the statement said. On the first day (July 11) of Nadda's visit, the Chairman of the Saudi-India Business Council, Abdulaziz bin Abdul Hadi Al Qahtani, hosted a dinner in honour of the Minister of Chemicals & Fertilizers in Dammam in the presence of the business community from the Eastern Province of Saudi Arabia. Nadda's visit highlighted the strong economic ties between India and the Kingdom of Saudi Arabia, particularly in the area of fertilizers, as per sources. 'The visit secured important commitments for the long-term supply of fertilizers from Saudi Arabia to India,' it said Harikishan Sharma, Senior Assistant Editor at The Indian Express' National Bureau, specializes in reporting on governance, policy, and data. He covers the Prime Minister's Office and pivotal central ministries, such as the Ministry of Agriculture & Farmers' Welfare, Ministry of Cooperation, Ministry of Consumer Affairs, Food and Public Distribution, Ministry of Rural Development, and Ministry of Jal Shakti. His work primarily revolves around reporting and policy analysis. In addition to this, he authors a weekly column titled "STATE-ISTICALLY SPEAKING," which is prominently featured on The Indian Express website. In this column, he immerses readers in narratives deeply rooted in socio-economic, political, and electoral data, providing insightful perspectives on these critical aspects of governance and society. ... Read More
