India made India-aircrafts Get a Push with Special Purpose Vehicle

By Staff Report September 9, 2024 1:41 pm

India plans to boost aircraft manufacturing by setting up a special-purpose vehicle, aiming to strengthen the aviation sector.

The government will establish a special purpose vehicle to advance commercial aircraft manufacturing in India, Civil Aviation Minister K Rammohan Naidu announced. He emphasises the growth potential of the nation’s aviation sector as reported by PTI. The Bhartiya Vayuyan Vidheyak Bill 2024, passed by the Lok Sabha in August, includes provisions for regulating aircraft design and manufacturing, aligning with the Aatmanirbhar Bharat initiative to promote self-reliance.

“The government is pushing hard for India to produce its own aircraft,” Naidu stated, adding that the special purpose vehicle will involve industry stakeholders. He noted that efforts are underway to launch aircraft manufacturing activities within the next five years. “We aim to be a significant player in plane manufacturing and export,” Naidu added.

State-run Hindustan Aeronautics Ltd (HAL) currently manufactures small civilian planes but at a limited capacity. India is one of the fastest-growing civil aviation markets globally.

At a conference organised by the PHD Chamber of Commerce and Industry, Naidu also highlighted the significant potential for Maintenance, Repair, and Overhaul (MRO) activities in the country. He further mentioned that India’s aviation sector stands at a “transformative crossroads” and the goal is to establish the country as a hub for aviation, air cargo, and MRO services.

The new Bill aims to remove redundancies and replace the Aircraft Act of 1934, which has been amended 21 times, in line with India’s rapid growth as a major civil aviation market.