PM Modi in Gujarat: Prime Minister Narendra Modi will lay the foundation stone of the Tata-Airbus-owned facility to manufacture C295 military transport planes on October 30, 2022, ahead of the forthcoming assembly elections in the state. India will enter an illustrious league of about only a dozen nations with the capacity to manufacture military transport aircraft, officials said. They said the project will also be a big boost to the 'Make In India' push of the government. With the launch of the C295 aircraft manufacturing facility, they said, India will become the 12th country with the capacity to manufacture such aircraft. Currently, the US, Japan, UK, Russia, France, Italy, Spain, Ukraine, Brazil, China, and Japan has that capacity, they added. According to an Allied Market Research report, the military transport aircraft industry is set to reach USD 45 billion by 2030. Tata-Airbus facility is due to complete its IAF commitment by 2031 and can start exporting its products to other nations as well, they said. Indian airline companies are one of the biggest buyers of commercial aircraft with an ever-expanding order book of 1,100 aircraft since 2011. Demand for commercial aircraft coupled with the C295 aircraft manufacturing facility and associated supply chain will create the required ecosystem to support the development of the commercial aircraft manufacturing industry in India, the officials said.from IndiaTV India: Google News Feed https://ift.tt/r0SyTDA
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