In the recent years practitioners and researchers have paid lot of attention towards lean manufacturing. Lean manufacturing practices, principles, tools and benefits to service as well as manufacturing organizations are well documented in the extant literature. Although numerous articles dealing with the concept and implication of lean manufacturing has been published inleading journals all over the world but the fact is that only few organizations have been successful in implementing lean manufacturing in totality to reduce the expected total cost and carried out a significant improvement in the their performance similar to that of Toyota Motor Corporation (TMC). Maximum of the success stories of lean implementation belongs to developed countries and lean implementation in totality is hardly evidenced in Indian Aircraft industry but Indian industries have a lot of scope for lean implementation. In this research an attempt has been made to explore cost benefits with supply chain.Also lean implementation, supplier's issues, lean tools, various waste identified, performance parameters and investment priorities for lean implementation in Indian scenario have been studied.