Govt to set up SPV to push for aircraft manufacturing in India: Naidu

The government will set up a special purpose vehicle to push ahead with plans to start manufacturing commercial aircraft in India, Civil Aviation Minister K Rammohan Naidu said on Wednesday as he highlighted the potential of the country's fast-growing aviation sector.

The Bhartiya Vayuyan Vidheyak Bill 2024, which was passed by the Lok Sabha in August, includes provisions to regulate the design and manufacturing of aircraft, supporting the Aatmanirbhar Bharat initiative for self-reliance.

"The government is strongly pushing the idea of India manufacturing its own planes," Naidu said, adding that a special purpose vehicle will be set up with industry stakeholders and others.

According to him, efforts are being to ensure that aircraft manufacturing activities can start in the next five years, he said.

"We want to be a big player for manufacturing planes and also export them," Naidu said.

India is a key market for aircraft manufacturers - Boeing and Airbus.

State-owned Hindustan ...