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In order to move forward with plans for commercial aircraft manufacturing in India, the government will establish a special purpose vehicle (SPV), as stated by K Rammohan Naidu, the minister of civil aviation.
Government To Establish Special Purpose Vehicle, Confirms Minister of Civil Aviation
Adhering to the Aatmanirbhar Bharat agenda, the Lok Sabha passed the Bhartiya Vayuyan Vidheyak Bill 2024, which includes regulations for aircraft design and manufacture.
“The government is strongly pushing the idea of India manufacturing its own planes,” said Naidu, adding that industry stakeholders will be involved in the formation of the SPV.
Within the following five years, it is hoped to start manufacturing aircraft with the goal of becoming a major participant in the sector and exporting aircraft as well.
For international aircraft manufacturers like Boeing and Airbus, India is a big market.
Though not on a large scale, Hindustan Aeronautics Ltd (HAL) already produces small consumer aircraft.
One of the global markets for civil aviation that is expanding the fastest is India.
Naidu also emphasized the nation’s potential in MRO (maintenance, overhaul, and repair) services during his speech at a conference organized by the PHD Chamber of Commerce and Industry.
Indian aviation is at a “transformative crossroads,” according to Naidu, who hopes to establish India as a center for MRO, air cargo, and aviation.
The Aircraft Act of 1934, which has undergone 21 amendments, is to be replaced by the Bhartiya Vayuyan Vidheyak Bill 2024 in order to bring laws up to date and better reflect India’s quickly growing aviation industry.
4.7 Lakh Passengers Flew Via 6128 Flights In 24 Hours
On April 21, domestic air traffic surged to 14% above the pre-pandemic average, with 4,71,751 passengers and 6,128 flights recorded. This notable increase reflects a positive trajectory for the aviation sector, indicating a resurgence in travel demand.
Comparing data from April 21, 2024, to the previous year highlights substantial growth, with 4,28,389 passengers and 5,899 flights recorded in 2023. This year-on-year increase underscores the resilience and adaptability of the aviation industry in overcoming pandemic-induced challenges.
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