Atmanirbhar Bharat: Prime Minister Narendra Modi on Sunday laid the foundation stone of the C-295 Aircraft Manufacturing Facility in Vadodara, saying that in the coming years, the defence and aerospace sectors are going to be the crucial pillars of the Atmanirbhar Bharat campaign.
“We aim to scale our defence manufacturing beyond $25 billion by 2025. Our defence exports will also exceed $5 billion,” the Prime Minister said while addressing the gathering.
The Prime Minister pointed out that the defence corridors being developed in Uttar Pradesh and Tamil Nadu will immensely help in scaling-up this sector.
Modi also praised the Defence Ministry and the Gujarat Government for organising the biggest ever Def-expo in Gandhinagar.
He underlined that all the equipment and technologies displayed in the Def-expo were made in India.
“The reflection of Project C-295 will also be visible to us in the Def-expo of the coming years,” the Prime Minister said.
Highlighting the investment friendly policies of the government, the Prime Minister remarked that its benefits are clearly visible in FDI.
“In the last eight years,” he said, “companies from more than 160 countries have invested in India.”
The Prime Minister further elaborated that such foreign investments are not limited to certain industries but spreads across 61 sectors of the economy and covers 31 states of India.
He informed that more than $3 billion has been invested in the aerospace sector alone. The Prime Minister noted that post 2014, investment in this sector grew 5 times of what was invested during the year 2000 to 2014.
“Today we have taken a big step in the direction of making India the manufacturing hub of the world,” Modi said.
He said India is making fighter jets, tanks, submarines, medicines, vaccines, electronic gadgets, mobile phones and cars that are popular in many countries. The Prime Minister remarked that India is moving forward with the mantra of ‘Make in India, Make for the Globe’ and now India is becoming a huge manufacturer of transport aircrafts in the world. The Prime Minister said that he can foresee that India will soon be manufacturing big passenger aircrafts that will proudly bear the words ‘Made in India’.
He said the facility for which the foundation stone was laid today, has the power to transform the country’s defence and transport sector. He pointed out that it is for the first time that this big investment is taking place in the Indian Defence sector. Transport aircrafts, manufactured here will not only give strength to the armed forces but it will help in developing a new ecosystem of aircraft manufacturing, he said. “Vadodara, which is famous as a cultural and education center, will develop a new identity as an aviation sector hub,” he said.
Commenting on the fast growing aviation sector of India, the Prime Minister said, “We are about to enter among the top three countries in the world with regard to air traffic.” UDAN scheme is helping in turning many commuters into air travelers, he said.
Highlighting the increased demand for passenger and cargo aircrafts, the Prime Minister stated that India will need more than 2000 aircrafts in the next 15 years. The Prime Minister pointed out that today is a crucial step in this direction and India has already begun preparations for the same. Modi also highlighted that India is presenting a global opportunity for the world that is beset by corona pandemic and war and marred by disruptions in the supply chain.
He pointed out that the growth momentum of India has been constant even among such tough circumstances. He explained that operating conditions are constantly improving and India is focussing on cost competitiveness as well as quality. “India is presenting the opportunity of low cost manufacturing and high output,” the Prime Minister remarked.
He also visited an exhibition showcasing technological and manufacturing strides in the aerospace industry under Aatmanirbhar Bharat.
