India to Set Up Special Purpose Vehicle for Aircraft Manufacturing

Sep 04, 2024 12:53

India's civil aviation ministry plans to establish a special purpose vehicle to boost aircraft manufacturing in the country, aiming to start production within the next five years.

New Delhi, Sep 4 (PTI) The government is planning to set up a special purpose vehicle for pushing ahead with plans for manufacturing aircraft in India, Union Civil Aviation Minister K Rammohan Naidu said on Wednesday.

Speaking at a conference in the national capital, Naidu said efforts are being made to ensure that aircraft manufacturing activities start in the country in the next five years.

India is one of the world's fastest growing civil aviation markets.

Naidu said the civil aviation ministry plans to set up a special purpose vehicle for taking forward efforts to start aircraft manufacturing in the country.

The minister was speaking at the conference organised by industry body PHD Chamber of Commerce and Industry.

Source: PTI By Rediff Money Desk, New Delhi

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