New Delhi: The Civil Aviation Minister, K Rammohan Naidu, announced that the government will set up a special purpose vehicle (SPV) to push forth the plans for manufacturing commercial aircraft indigenously. This comes in light of the growing potential of India’s aviation sector. According to Naidu, efforts are being made by the government to start manufacturing activities in the next five years.
India is already a key market for aircraft manufacturers such as Boeing and Airbus. The State-owned Hindustan Aeronautics Limited (HAL) is also manufacturing small civilian planes on a smaller scale. Naidu explained that the government now wants to be a big player in manufacturing planes and exporting them. For this purpose, the Bhartiya Vayuyan Vidheyak Bill 2024 was passed in the Lok Sabha in August, which includes guidelines to regulate the design and manufacturing of aircraft in India.
The move is in line with the Atmanirbhar Bharat initiative of the government which seeks to promote self-reliance and indigenous manufacturing.
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