SME Times News Bureau | 18 Oct, 2018
The government is preparing a roadmap to promote manufacturing of
aeroplanes in India to ensure growth of country's aviation sector, Union Minister Suresh Prabhu said at an ASSOCHAM event held in New Delhi.
"The
growth in aviation would need at least 1,000 aeroplanes to be brought
by India, but if we just continue to buy it, over a period of time we
will result into becoming the largest importer of aeroplanes," said Prabhu said at an ASSOCHAM event in New Delhi.
He added, So we are preparing a plan for manufacturing of aircrafts in India and that will have a huge benefit.
The
minister further said that government’s twin plan of promoting
indigenous manufacturing of aeroplanes and construction of 100 airports
in 15 years at an estimated cost of $65 billion would drive aviation
sector’s growth in India.
Urging
the industry to embrace new ideas, he informed that the new industrial
policy which is soon likely to be announced, is focussed on modernising
the present industry and embracing the newer industry which is going to
be the cause of future growth. "Industry should come out with concrete
solutions to help government and work together."
Stating
that no country in the world can benefit if global trade declines, the
union minister said that while a slowing world economy is a cause of
concern for all countries, it is particularly so for a country like
India which has got the potential to become $10 trillion economy before
2035.
"India
is the worst sufferer if the world trade does not grow because we have a
huge stake, our share in global trade is increasing and in fact we are
at a stage where-in more global growth will come from more production
within the country," said Prabhu.
He
informed, "I have set up some top thinkers to navigate India out of
these new emerging trends and how do we become winners despite these
challenges."
Prabhu also informed that his ministry was working on improving
business atmosphere in India through initiatives like promoting ease of
doing business at district level.
Besides, he said, India’s integration with international trade is very critical to grow at a faster rate.
"We
have to ensure that India will continue to be on forefront of growth,
not only for helping our people but also contribute to global growth, so
one country growing also helps other countries as a co-beneficiary," he
said.
