PM Modi Envisions Aircraft Manufacturing Ecosystem In India Leveraging MSME Strengths

Bengaluru, Jan 20 (KNN) Prime Minister Narendra Modi underscored the importance of establishing a robust aircraft manufacturing ecosystem in India.

He emphasised on leveraging the nation's Micro, Small, and Medium Enterprises (MSMEs), abundant talent pool, and stable governance for progress in the aviation industry.

While inaugurating Boeing's new global engineering and technology innovation campus in Bengaluru, he noted Karnataka's growing prowess as a key aviation hub, on Friday.

Expressing confidence in India's policy to foster 'Make-in-India,' Modi affirmed that it presents a mutually beneficial proposition for every investor.

The newly inaugurated 43-acre campus, situated in Devanahalli near Kempegowda International Airport, stands as Boeing's largest investment outside the United States, with an investment outlay of Rs 1,600 crore.

Recalling the launch of Asia's largest helicopter manufacturing facility in Karnataka the previous year, Modi emphasised that Boeing's latest venture accentuates Karnataka's emergence as a prominent aviation hub.

He lauded Bengaluru as a city connecting aspirations to innovations, linking India's technological prowess to global demands, and reinforcing the world's trust in India's talent.

David L Calhoun, Boeing's President and CEO, expressed the company's honour in supporting PM Modi's transformative vision for India. Modi, in turn, expressed optimism about the imminent arrival of an aircraft fully designed and manufactured in India.

“In the last decade,” the PM added, “India’s aviation sector made rapid strides including having 150 operational airports, up from about 70 in 2014.”

He disclosed the government's initiatives, including encouraging state governments to reduce taxes on aviation fuel and working towards simplifying aircraft leasing processes.

Additionally, he emphasised the establishment of the International Financial Services Centres Authority in Gift City, Gujarat, aimed at reducing India's offshore dependence on aircraft leasing and financing.

(KNN Bureau)