Having worked on GE Frame 7 type engine, it's not that big a deal anymore. Think CAD/CAM software, CNC and automatic manufactring, think consultants.
PSU's must spin off their tech. to pvt. Co.''s. Note that almost every prestigious project is sabotaged from within and key engineers end up dead. Competition, industrial espionage and sabotage are rife in such Indian projects. And their marketing sucks.
Yes, vested interests in India, the politician - criminal nexus works against India from top to bottom. Defence contracts is were all the big boys' patronage and commissions come.
India will make it in aerospace biz. India has friends in the biz. Demand and most imp. -Govt. and finance. Major pvt. Co's like Tata, Reliance and Mahindra are established re. Global buy-outs. After textile, steel, Rail, IT, Auto, Pharma, Civil Nuke and Outerspace/Cosmos tech, old fashioned aerospace is totally do able.
Indonesia did it with collaborarions and stumled, Iran did it re. US sanctions and many smaller EU and US/Canada Co.'s are losing out re. recessions.
In core sectors like defence, India still pushes old school 'indigenous-shindiginous'. Globalisation means America's old enemies Germany and Russia and even China are fully in on supply chains.
Modi's Make-in-India includes assemble or integrate in India. All good.