‘Boeing and Airbus will have to set up final assembly lines here at some stage’: Piyush Goyal
New Delhi: boeing And airbus “will have to be considered at some stage”. final assembly Looking at the possibility of lines in India air traffic growth In India, Union Commerce Minister Piyush Goyal Said on Thursday. And that’s not because of the orders for more than 1,100 aircraft worth $140 billion at list price that Tata’s two giants won from Air India, IndiGo and Akasa in the last 11 months. But because India will remain the largest market for aircraft for the next 20-25 years.
“This 1,100-plus order is only the beginning (of aircraft orders from India). We will talk to Airbus and Boeing (to set up FTA). A third original equipment manufacturer (OEM) making small aircraft has shown interest in manufacturing in India,” Goyal said. Finance Minister Nirmala Sitharaman in her interim budget had talked about the record orders placed by Indian aviation companies in the last one year and India’s aviation growth story.
Meanwhile, Goyal said talks are underway with several countries for bilateral investment treaties (BITs). Many BITs were canceled in 2016 and those places are talking to India. Some people no longer want the treaty because it has become “inactive”. “India is a big investor now. As much as investment is made from the UK to India, as much is invested by India into the UK. The difference is that India now talks not from a position of weakness but from a position of strength. Earlier (before 2014) others used to set the terms for India because they needed a free trade agreement (FTA). Some FTAs signed 10-12 years ago are harmful for India as they were not signed with necessary stakeholder consultation as is done now and are not increasing exports. But that was then,” the minister said.
Regarding PLI, the minister said the scheme will grow by “leaps and bounds”. “PLI is a game-changer scheme,” he said.
“This 1,100-plus order is only the beginning (of aircraft orders from India). We will talk to Airbus and Boeing (to set up FTA). A third original equipment manufacturer (OEM) making small aircraft has shown interest in manufacturing in India,” Goyal said. Finance Minister Nirmala Sitharaman in her interim budget had talked about the record orders placed by Indian aviation companies in the last one year and India’s aviation growth story.
Meanwhile, Goyal said talks are underway with several countries for bilateral investment treaties (BITs). Many BITs were canceled in 2016 and those places are talking to India. Some people no longer want the treaty because it has become “inactive”. “India is a big investor now. As much as investment is made from the UK to India, as much is invested by India into the UK. The difference is that India now talks not from a position of weakness but from a position of strength. Earlier (before 2014) others used to set the terms for India because they needed a free trade agreement (FTA). Some FTAs signed 10-12 years ago are harmful for India as they were not signed with necessary stakeholder consultation as is done now and are not increasing exports. But that was then,” the minister said.
Regarding PLI, the minister said the scheme will grow by “leaps and bounds”. “PLI is a game-changer scheme,” he said.
