India's Civil Aviation Minister plans to establish an SPV for domestic aircraft manufacturing within five years, aiming for global aviation hub status.

India's Civil Aviation Minister, K Rammohan Naidu, announced plans to create a special purpose vehicle (SPV) to boost domestic aircraft manufacturing, aiming for production to start within five years. This initiative seeks to position India as a global aviation hub and exporter. The government is also reforming policies, including a uniform 5% tax rate on aircraft parts, and emphasizes the potential growth of the Maintenance, Repair, and Overhaul (MRO) sector.

September 04, 2024
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