India Daily: Finance Minister Explores Aerospace Opportunities With Boeing
Photo Credit: It's time for India to look at manufacturing aerospace products. Source: Mark Harris/Flickr https://www.flickr.com/photos/128856399@N02/52330111291/in/photolist-2nJeuW8-2kdEfkC-2kszj2W-2iVu76X-2mjwLq7-2nAnUU1-2mEciFt-YryEHo-2hP1sS9-2iUzFFy-2jCJTsK-2nu6w3D-2jZYhUF-2kCGjVK-2kdaWSC-2ev5HZx-PyqPcB-2nTm8Ki-2mEyFPT-YQ4myN-2j8fpYb-2kpaxbt-LEA5Kh-XE7F1r-2iL8gza-2kFqXQf-2hme4B2-SFsCwK-2m4ws9V-26nsoq4-2ju8HHN-QrHhji-2kDDBmG-NSGbEX-2h6VgNM-2ixHPWb-yXbLsQ-2gBJWnX-2kWVW4X-2hEHhaR-2iDYiSq-2mZFs4J-2iwwt3j-2kBy4FR-2jcspmL-VWEhf4-WY67cH-2hicfz8-2iLaw1H-2mvzats Flickr / Mark Harris
Skift Take
To become creators of equipment, platforms and systems will require a thriving indigenous research, design, development and manufacturing infrastructure.
India’s Finance Minister Nirmala Sitharaman invited U.S. aircraft maker Boeing to ramp up investment in the country, given India’s flourishing aerospace and civil aviation market. The planemaker had earlier announced that it will invest about $24 million on setting up a logistics center in the country to stock spares for commercial airlines. During an interaction with a delegation from Boeing's global senior leadership team, the minister underlined India’s focus on repositioning itself as a maintenance, repair and operations hub that can potentially cater to a wide region spanning Europe, Africa and the Far East. Earlier in March, Civil Aviation Minister Jyotiraditya Scindia also highlighted it was time for India to look at manufacturing aerospace products, adding that the aggregate fleet size of domestic carriers is estimated to reach around 2,000 aircraft over the next five to seven years. Sitharaman further emphasized the opportunities available for companies to relocate to India to be a hub for the region. In reference to Indian airlines’ record aircraft order, she informed the delegation about Gujarat International Finance Tech-city banks' aircraft leasing operations.
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