Civil Aviation Minister asks aerospace manufacturers to increase supply chain manufacturing footprint in India
New Delhi: To strengthen India's aerospace manufacturing and maintenance, repair, and overhaul (MRO) sector, Civil Aviation Minister Jyotiraditya Scindia on Tuesday urged leaders of aerospace manufacturing companies to work together and share their needs from various government departments, an official release said.
This collaboration aims to support the expansion of supply chains for aerospace manufacturing in India, it said.
During the Advisory Group meeting of Aerospace Manufacturers and MROs, Minister Scindia also engaged in detailed discussions with MROs on their operational and taxation challenges.
Met the Advisory Group of Aerospace Manufacturers and MROs and deliberated upon taxation, as well as regulatory issues impacting the growth of the sectors.
— Jyotiraditya M. Scindia (@JM_Scindia) December 12, 2023
Also, advised aerospace manufacturers to present a collaborative plan outlining their requirements from each department of… pic.twitter.com/J6RQhtJn5f
The Minister said he would relook at select taxation and regulatory issues and collectively work towards greater financial viability for MROs.
He further underlined the ministry’s commitment towards establishing India as a global hub for aviation and creating a robust and globally competitive aviation ecosystem.
The meeting was attended by players like Airbus, Boeing, Safran, Max Aerospace, GMR MRO, Bharat Forge, Tata Advanced Systems, RTX, HAL, AIESL, Pratt & Wittney, Air Works, Taj Air, Bird Executive, Invest India and CII.
The meeting also was attended by Gen (Retd) Dr. V. K. Singh, Union Minister of State for Civil Aviation & Road Transport and Highways, Vumlunmang Vualnam, Secretary, Ministry of Civil Aviation (MoCA) and other senior officials from DGCA, AAI, BCAS and MoCA.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Indian High Commission hosts ‘Startup Connect’ event for Bangladeshi innovators
Sangh stands as the embodiment of eternal national spirit: Modi on RSS' 100 years
Pakistan: Blast close to Quetta’s FC headquarters leaves 10 dead
Baloch American Congress asks Trump to support fight for Balochistan's cause
