India witnessing high growth in aerospace: FM to Boeing seeking investment

Finance Minister Nirmala Sitharaman on Tuesday said India's aerospace and civil market is on a high growth trajectory and invited US-based aircraft maker Boeing to ramp up investment in the country.

During an interaction with a delegation from Boeing comprising of their global senior leadership team, Sitharaman highlighted the opportunities available in India for relocating companies in the form of not just a captive market but also the chance to be a hub for serving the region as a whole and this can be rewarding for companies from a business point of view.

"In reference to the recent bulk order for aircraft placed by Indian companies, FM stated that India's aerospace and civil market is on a #HighGrowth trajectory & also informed the group about aircraft leasing operations being undertaken by banks in GIFT-IFSC @GIFTCity," a finance ministry said in a series of tweets.

In the context of India's geographical advantage, the minister underlined India's focus on repositioning itself as an maintenance, repair, and operations (MRO) hub that can potentially serve the region from Europe to Africa to Far East.

Talking about India's journey towards becoming the third largest economy in the world, she apprised the group of the visionary leadership of Prime Minister and the vision for the next 25 years Amrit Kaal, while leading India to mark 100 years of independence.

Referring to AmritKaal, Sitharaman said the key focus of the Government is to benefit the citizens of India through the four 'I's of--Investments, Infrastructure, Innovation and Inclusivity.