Civil Aviation Minister Jyotiraditya Scindia on Monday said it is time for India to look at manufacturing of aerospace products as he highlighted the growth potential of the country's aviation sector. He also said domestic airlines are together projected to have a fleet of around 2,000 planes in the next five to seven years.
It is time to look at manufacturing of aerospace products in India. "Time is ripe for manufacturing to take off in India," he said and emphasised that the country's aviation sector is growing exponentially. Speaking at a summit organised by aviation consultancy CAPA here, the minister said, "we need to increase the ecosystem of Indian civil aviation." "Come and be a part of the civil aviation growth story," he said.
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According to him, as many as 15 Flying Training Organisations (FTOs) are expected to be set up by the end of this year, taking the total number of FTOs to 50. Currently, there are 35 FTOs. Highlighting the growth of the drone sector, he said it is expected to be worth Rs 3 lakh crore by 2030 and create around 2.5 lakh jobs.
"We are also looking at (improving) the ease of doing business in India," he noted. Consultations are going on to amend both Aircraft Act and rules to further improve the ease of doing business, Scindia said. There is an S-shaped evolution curve for all sectors and in the case of the civil aviation sector, India is between the "infancy and growth phase", the minister said. According to him, 'S' indicates the infancy stage, growth phase and maturity phase.
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