Bengaluru: Prime Minister NarendraModi said on Friday that India has been aiming to reduce its offshore dependence on aircraft leasing and financing in the coming years.
He said this while addressing a gathering after inaugurating the Boeing India Engineering and Technology Centre (BIETC) in BhattaraMarenahalli near Devanahalli on the outskirts of Bengaluru.
PM Modi said that to enable more rapid growth in aviation, India has been taking many steps at the policy level constantly.
“We are encouraging states to bring down taxes on aviation fuels, making the process of aircraft leasing easier. Our aim is to reduce India’s offshore dependence in aircraft leasing and financing,” he stated.
For this purpose, the International Financial Services Centres Authority (IFSCA) has been started in GIFT City, Gujarat.
“The aviation sector in the country will benefit from this. I have stated from the Red Fort, ‘Yahisamayhai, Sahisamayhai’ (this is the right time). For Boeing and other international companies, this is the right time. This is the time to ensure their growth with India’s progress,” PM Modi emphasised.
“I am confident that, in India, for Boeing’s first fully designed and manufactured aircraft, you need not wait for long. I am also confident India’s aspiration and your expansion will forge a strong partnership,” he said.
He further stated that achieving the status of a developed nation in the coming 25 years has become the conviction of 140 crore Indians.
