Civil aviation minister Jyotiraditya Scindia has said that the country would slowly develop the ecosystem for domestic manufacturing of aviation-related components.
“Manufacturing of aviation equipment is an idea whose time has come, and I think we need to proceed rapidly to fulfil India’s potential in this field. I see India progressing to become one of the largest aviation markets in the world over the next decade,” Scindia told FE.
He said that Boeing currently procures components worth $1 billion from India every year, while Airbus’ procurement stands at $650 million per annum.
Also read: Make in India: Apple says no to iPads and MacBooks
Scindia said a new facility will come up in the country to produce the C-295 transport aircraft. The foundation stone of this unit was recently laid down by Prime Minister Narendra Modi.
“This joint venture (JV) between Airbus and Tata group at an investment of Rs 21,000 crore will lead to manufacturing of 40 (C-295) aircraft for the defence sector and almost 4,600 sub-assemblies will be made in India,” Scindia added.