Underlining that consistent reforms have been a key driver of India’s rapidly expanding aviation sector, the prime minister stressed on India’s commitment to becoming a global manufacturing hub, with strategic initiatives supporting this vision. Mentioning that Mission Manufacturing was announced in this year’s budget, reinforcing India’s focus on industrial growth, PM Modi further highlighted the Protection of Interest in Aircraft Objects Bill, passed in Parliament this year, granting legal authority to the Cape Town Convention in India. The prime minister remarked that this legislation opens new opportunities for global aircraft leasing companies in India. He also pointed to the incentives offered at Gift City, stating that these measures have made India an attractive destination for aircraft leasing.
“The new Indian Aircraft Act aligns aviation laws with global best practices, ensuring a streamlined regulatory framework, ease of compliance, and a simplified tax structure which presents a significant investment opportunity for major international aviation companies”, said Modi. He highlighted that growth in the aviation sector translates to new flights, new jobs, and new possibilities, noting that the industry is creating expanding opportunities for pilots, crew members, engineers, and ground staff. The prime minister also pointed to the emergence of Maintenance, Repair, and Overhaul (MRO) as a sunrise sector, highlighting that India is accelerating efforts to become a global hub for aircraft maintenance. He noted that in 2014, India had 96 MRO facilities, which has now increased to 154 while 100% FDI under the automatic route, GST reduction, and tax rationalisation measures have given fresh momentum to India’s MRO sector. PM Modi outlined India’s goal to establish a $4 billion MRO hub by 2030, reinforcing the nation’s aviation growth strategy.
The prime minister said, from design to delivery, India is becoming an integral part of the global aviation supply chain. He asserted that India’s direction and pace are on the right track, expressing confidence in the nation’s continued rapid progress. Modi urged aviation companies to not only embrace ‘Make in India’ but also ‘Design in India’, reinforcing the vision of India’s leadership in global aviation innovation.
The prime minister underlined that India’s aviation sector is strengthened by its inclusive model, with over 15% of pilots in India are women, which is three times the global average. He emphasised that while the global average of women in cabin crew is around 70%, India’s figure stands at 86%.