- NITI Aayog met with JIBCC to boost aerospace manufacturing and investment ties
- Arvind Virmani highlighted aerospace clusters in Karnataka, Telangana, and Maharashtra
- Over 1,300 DPIIT-recognized aerospace enterprises have emerged in India
The government think-tank NITI Aayog conducted a meeting with the Japan–India Business Cooperation Committee (JIBCC) of the Japan Chamber of Commerce and Industry (JCCI) to explore the possibility of strengthening the collaboration between the two countries in the areas of aerospace manufacturing, investment facilitation, and business environment reforms.
Arvind Virmani, Member, NITI Aayog, mentioned in his speech that India was a rapidly growing aerospace ecosystem. He mentioned the major manufacturing clusters being built in Karnataka, Telangana, and Maharashtra and the growing number of over 1,300 aerospace companies in India that have been recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).
The panel discussions highlighted the opportunities that Japanese companies, particularly SMEs, can pursue by partnering with Indian firms in well-established Aerospace manufacturing centres.
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The discussions included encouraging Japanese representatives to leverage opportunities afforded by the Production Linked Incentive (PLI) and Drone PLI initiatives to manufacture aerospace components as well as to drive R&D and innovation in India.
The meeting emphasised the continued collaborative efforts between ISRO and JAXA in a variety of areas including lunar exploration, satellite navigation and X-ray astronomy. Additionally, improvements made to India's MRO regulations as well as tax reforms and other support measures indicated India's extraordinary growth potential in becoming an emerging aerospace hub for the Asia-Pacific Region.
This session reaffirmed both nations' commitment to enhancing their technology partnership through improved industry collaboration and a stronger focus on creating resilient supply chains; as well as through encouraging the sustainable development of the economies of both nations through further collaboration between the two nations' industries.