Sunday 24 / November / 2024
New Delhi: Aerospace major Boeing India President Salil Gupte on Friday said that the airline sector in India is experiencing rapid growth as compared to the world, with an impressive growth rate of approximately 6.97 per cent over the past few years.
Speaking to ANI, Gupte emphasised that the growth in the airline industry is expected to persist, as it correlates with the country's robust GDP growth, making India's economy one of the strongest among major nations worldwide.
"The airline sector in India is the fastest-growing airline sector anywhere in the world. It has grown by roughly 6.97 per cent over the last number of years. It'll continue to grow at that level because it tends to grow along with GDP growth. And India has the fastest GDP growth and the strongest economy of any major nation in the world. So the airline sector will continue to boom over the next few years..." he said.
He further said that the Indian government's Make in India programme has created an ethos that Indian companies should think big about doing business with the rest of the world.
"...'Make-in-India' has been reasonably successful to this point because people tend to look at it in a very narrow frame. They tend to look at it as certain manufactured products. 'Make-in-India' is all about exports and economic value generation, whether that's in services or manufacturing. And over the last ten years, 'Make-in-India' has created an ethos that Indian companies should think big about doing business with the rest of the world. And that has set India up in this moment to become a leading exporter. And so I think all companies are looking at those opportunities and want to participate in that...", he added.
'Make in India' is an initiative that was launched on September 25, 2014, to facilitate investment, foster innovation, build best-in-class infrastructure, and make India a hub for manufacturing, design, and innovation. It is one of the unique 'Vocal for Local' initiatives that promoted India's manufacturing domain to the world.
According to the government official, the 'Make-in-India' initiative has significant achievements and presently focuses on 27 sectors under 'Make-in-India' 2.0. The Department for Promotion of Industry and Internal Trade (DPIIT) coordinates action plans for 15 manufacturing sectors, while Department of Commerce coordinates 12 service sector plans.
