India’s government is gearing up to establish a special purpose vehicle to propel aircraft manufacturing initiatives in the country, as revealed by Union Civil Aviation Minister K Rammohan Naidu. The goal is to kickstart aircraft production within the next five years to leverage India’s rapid growth in the civil aviation sector.
Acknowledging India’s status as one of the world’s fastest-growing aviation markets, Naidu highlighted the civil aviation ministry’s commitment to creating a conducive environment for aircraft manufacturing. This announcement was made during a conference organized by the PHD Chamber of Commerce and Industry in New Delhi.
This strategic move aims to boost the domestic aviation industry and reduce reliance on imports, ultimately enhancing India’s self-reliance in the aerospace sector. With a clear focus on fostering local manufacturing capabilities, the government’s efforts signify a significant step towards realizing India’s potential as a manufacturing hub for the aviation industry.
(Source: news18.com)
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