Sunday, July 6, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Manufacturing

Manufacturing: Tata-Airbus facility to transform defence-transport sectors

Fiinews by Fiinews
November 1, 2022
in Manufacturing
Reading Time: 4 mins read
A A
0
PIB

PM at the foundation stone laying ceremony of C-295 Aircraft Manufacturing Facility, in Vadodara 30 on October 2022.

0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

PM says aerospace sector has $3+bn investments; potential of $5+bn defence exports

The Rs.21,935 crore Tata-Airbus C-295 transport aircraft manufacturing facility has the power to transform the country’s defence and transport sectors, says Prime Minister Narendra Modi.

Laying the foundation stone on 30 Oct 2022 at the Vadodara facility, he pointed out that it is for the first time that this big investment is taking place in the Indian defence sector.

The facility is a collaboration between Tata Advanced Systems Limited and Airbus Defence and Space S.A., Spain.

“We aim to scale our defence manufacturing beyond US$25 billion by 2025. Our defence exports will also exceed US$5 billion,” said the Prime Minister, adding that more than US$3 billion has been invested in the aerospace sector alone.

Transport aircraft, manufactured at the Vadodara facility, will not only strengthen the Armed Forces but also help in developing a new ecosystem of aircraft manufacturing.

He noted that more than 100 MSMEs are also associated with the project to manufacture C-295 aircraft for the Indian Air Force (IAF).

He said the promise of ‘Make in India, Make for the World’ will gain new push from this land as the project will be able to take orders for export to other countries in the future.

Commenting on the fast-evolving aviation sector of India, Modi said, “India will need more than 2,000 aircraft in the next 15 years. Today is a crucial step in this direction and India has already begun preparations for the same.”

He further explained that operating conditions are constantly improving and India is focusing on cost competitiveness as well as quality.

“India is presenting the opportunity of low-cost manufacturing and high output,” the Prime Minister remarked, highlighting the availability of a huge talent pool of skilled manpower.

The Prime Minister said India is creating an unprecedented environment for manufacturing in the country.

He gave examples of creating a simplified corporate tax structure while making it globally competitive, opening up the 100% FDI route, opening up defence and space sectors for the private companies, reforming 29 central labour laws into four codes, abolishing 33,000 compliances, and creation of the Goods and Service Tax by putting an end to a complex web of dozens of taxes.

He said, “A new saga of economic reforms is being written in India today and the manufacturing sector is reaping the most benefits from this apart from the states.”

The government, he added, has started giving equal importance to the public and private sector.

“We have come up with various new incentives for investors. We launched the Production Linked Incentive scheme, which made the change visible. Today our policies are stable, predictable and futuristic,” he said.

The Prime Minister also recalled a time when the dominant thought was to focus on the service sector as manufacturing was considered to be beyond reach.

“Today, we are improving both services and manufacturing sectors,” he said.

He underlined the importance of a holistic approach that focuses on both the manufacturing and service sector. “Today India is preparing to stay ahead of everyone in manufacturing,” he added.

“This became possible because in the last eight years we focused on skill development and created an environment for it. By assimilating all these changes, today India’s development journey in the manufacturing sector has reached this stage,” he pointed out.

Highlighting the investment friendly policies of the government, he remarked that its benefits are clearly visible in FDI.

More than 160 countries have invested in India in the last eight years. Such foreign investments are not limited to certain industries but spreads across 61 sectors of the economy and covers 31 states of India.

The Prime Minister pointed out that the defence corridors being developed in Uttar Pradesh and Tamil Nadu will immensely help in scaling-up this sector.

Modi also urged all those associated with the industry to make the most out of the unprecedented investment confidence in the country at the moment.

He added that more thought must be given to helping the start-ups of the country in moving forward.

The Prime Minister also stressed on increased participation of the private sector in the field of research. “If we push in this direction, we will be able to develop a stronger ecosystem of innovation and manufacturing.” fiinews.com

Tags: The Prime Minister's Office
ShareTweetShare

Related Posts

FICCI
Manufacturing

Manufacturing: Framework on Drones by Sep-Oct

by Fiinews
July 6, 2025
0
15

Lt Gen Singh urged industry to invest more on component level R&D Lt Gen Rahul R Singh, Deputy Chief of...

Air Liquide
Manufacturing

Manufacturing: Air Liquide builds ASU-CFS

by Fiinews
July 5, 2025
0
13

Renard doubling production capacity in Gujarat Paris-headquartered Air Liquide is investing in a second Air Separation Unit (ASU) and a...

NITI Aayog

Manufacturing: India’s chemical sector faces challenges

July 5, 2025
21
Ericsson

Manufacturing: India benefits form global partners

July 2, 2025
18
Greenzo Energy

Manufacturing: Greenzo to invest in electrolyser

July 1, 2025
16
RRP S4E

Manufacturing: India to get Bulgarian technology

July 1, 2025
18
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Export: India to ship non-GMO soybean to EU
  • Tender: Take care of new urban development
  • Manufacturing: Framework on Drones by Sep-Oct
  • Project: Joint maritime professionals launched
  • Market: Daimler bullish on construction sector

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.