New Delhi : Commerce and Industry Minister Piyush Goyal gave important information about the aviation sector in a program on Wednesday. Giving information, Goyal said that the Government of India has requested the French aviation business to set up manufacturing plants in our country. He has said that India is one of the largest aviation markets in the world. India has recently ordered 1,500 aircraft and its capacity can increase to 2,000 aircraft.
Piyush Goyal, in his address at the Asia-Pacific Platform of Foreign Trade Advisors of France, said that Indian companies have currently ordered 1,500 aircraft and our capacity can increase to 2,000 aircraft. French companies will benefit if they think about the possibilities of manufacturing in India and can consider increasing sales in India for spare parts for aircrafts and its maintenance, repairing and other industries.
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Number of airports increased
French company Airbus has received a major share of aircraft orders from Indian companies. With the coming of Modi government at the Center in 2014, the number of airports in India has increased from 75 to 125 and 75 more new airports can be operational by 2029. Goyal has said in his statement that this is a big opportunity for such companies who want to develop in industries related to airports and aviation sector. He also said that we encourage all the big aviation companies of the world to do manufacturing in India. Not only this, we are also giving permission for 100 percent stake to defense aviation companies.
These sectors may benefit
Piyush Goyal has also invited French companies to partner with India in agriculture and food processing, renewable energy, electric vehicles, artificial intelligence, quantum technology and service sectors. France is the 11th largest source of foreign direct investment in India with a total investment of $11 billion. About 750 French companies are operating in India and 75 Indian companies are operating in France. Bilateral trade between the two countries was expected to be $15 billion in 2023-24. In this, Indian exports were 7 billion dollars and imports were 8 billion dollars.
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