Modi’s ‘Make in India’ Gets $2 Billion Vote of Confidence From Airbus – India Real Time – WSJ

On Saturday, Indian Prime Minister Narendra Modi paid a visit to Airbus Group ‘sEADSY +0.49% facilities in Toulouse, France.

He was greeted with a vote of support, from the aerospace company’s CEO, for his Make in India initiative to build up manufacturing in the South Asian country.

Airbus is “ready to manufacture in India, for India and the world,” said Airbus chief Tom Enders. “India already takes a center-stage role in our international activities and we want to even increase its contribution to our products.”

Airbus Group aims to increase its sourcing of aerospace parts from Indian companies to $2 billion in the next five years, the company informed Mr. Modi, as it seeks to diversify its supplier base and tap low-cost suppliers worldwide.

The company’s strategy to ramp up outsourcing from India comes as it competes to secure billions of dollars in deals for military hardware from the country.

India has yet to decide on a joint bid by Airbus and India’s Tata Group to make Airbus’s C295 aircraft, in a contract estimated at about $3 billion. The company is also pursuing separate deals for hundreds of helicopters from the Indian military.

India has already selected Airbus to supply six A330 multirole tanker-transport planes for an estimated $2 billion.

In a presentation to the Indian prime minister on Saturday, the company said it would work with partners in India in areas such as engineering, customer services and pilot training, and to establish centers for the maintenance, repair and overhaul of planes, according to Indian Foreign Ministry spokesman Syed Akbaruddin.

In a statement, Airbus said it aims to produce helicopters, military planes, sensors as well as satellites in India, in partnerships with local firms. The company predicted India would India would require 1,291 new planes over the next two decades. It forecast the Indian air travel market to grow 11% each year through 2025.

via Modi’s ‘Make in India’ Gets $2 Billion Vote of Confidence From Airbus – India Real Time – WSJ.

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One Comment to “Modi’s ‘Make in India’ Gets $2 Billion Vote of Confidence From Airbus – India Real Time – WSJ”

  1. Modi’s ‘Make in India’ Gets $2 Billion Vote of Confidence From Airbus – India Real Time – WSJ

    IT APPEARS THAT’ MODI CHARM’ HAS MOVED TO EUROPE!

    Like

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