PM says India emerging as leading force in global space-aviation convergence
Prime Minister Narendra Modi on Monday addressed the International Air Transport Association's (IATA) 81st Annual General Meeting (AGM) and the plenary session of the World Air Transport Summit (WATS) in New Delhi. He highlighted India's emergence as a global leader in aviation and space convergence. PM noted that India is emerging as a leading force in the global space-aviation convergence. He described India as the world's third-largest domestic aviation market, with 240 million passengers annually, surpassing the population of most countries. By 2030, this figure is projected to reach 500 million, with air cargo expected to grow from 3.5 million metric tons to 10 million metric tons by the decade's end.
PM Modi underscored the success of the UDAN scheme, which has enabled over 15 million passengers, many first-time flyers, to access affordable air travel, calling it a "golden chapter" in Indian aviation history. He highlighted the expansion of operational airports from 74 in 2014 to 162 today, with an annual passenger handling capacity of 500 million. Indian carriers have ordered over 2,000 new aircraft, signaling robust growth, while the Maintenance, Repair, and Overhaul (MRO) sector has grown from 96 facilities in 2014 to 154, bolstered by 100% FDI, GST reductions, and tax rationalization.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
11 minutes ago
- Mint
Anil Ambani-owned Reliance Infrastructure share price dips 5% after THIS reply on 155mm artillery shells
Anil Ambani-owned Reliance Infrastructure's stock took a breather on Thursday after a sharp 11% gain in the last trading session, with the scrip declining 5% in intra-day deals today. Apart from profit taking following a sharp rally in recent months, Reliance Infra share price also came under pressure following its response to the exchange on the development of next-gen 155mm artillery shells by the company. The stock exchange BSE had sought a clarification from Reliance Infrastructure on Wednesday about an article in Business Today, titled "Reliance Infra becomes first private Indian firm to develop next-gen 155mm artillery shells". In its response, the Anil Ambani-owned group stock said that it has a number of defence SPVs that are engaged in various businesses, including one SPV which is in the process of developing ammunition with the DRDO project of the Government of India. "The activities are routine in nature as per the objectives of the company. There were no negotiations as per our knowledge and information," the company said. Furthermore, it added that the development of ammunition by a subsidiary company is in the normal course of business and is not a disclosable event. Reliance Infra also said that as on date, there was no order from the Indian Army for ammunition under development. Meanwhile, in a major relief for Reliance Infra, National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed insolvency proceedings against the company that were initiated by IDBI Trusteeship Services Ltd over an alleged default of ₹ 88 crore. The ADAG stock Reliance Infrastructure declined as much as 4.8% in intra-day trade on Thursday. It hit the day's low of ₹ 362. However, this fall is a small dent in the massive rally the Reliance Infrastructure share price has seen recently. The BSE Smallcap stock is up 17% in a week and 68% in three months. In 2025 so far, Reliance Infra share has added 15.60% while it has emerged as a multibagger stock over a year, rallying 146%. As of 3.20 pm, Reliance Infrastructure share price was at ₹ 373.80, down 1.75%. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
11 minutes ago
- Mint
Dassault Aviation partners with Tata to manufacture first-ever Rafale fighter aircraft fuselage in India
Dassault Aviation and Tata Advanced Systems Limited have signed four Production Transfer Agreements to manufacture the Rafale fighter aircraft fuselage in India, marking a significant step forward in strengthening the country's aerospace manufacturing capabilities and supporting global supply chains. This facility represents a significant investment in India's aerospace infrastructure and will serve as a critical hub for high-precision manufacturing. Under the scope of the partnership, Tata Advanced Systems will set up a cutting-edge production facility in Hyderabad for the manufacture of key structural sections of the Rafale, including the lateral shells of the rear fuselage, the complete rear section, the central fuselage, and the front section. The first fuselage sections are expected to roll off the assembly line in FY2028, with the facility expected to deliver up to two complete fuselages per month. 'For the first time, Rafale fuselages will be produced outside France. This is a decisive step in strengthening our supply chain in India. Thanks to the expansion of our local partners, including TASL, one of the major players in the Indian aerospace industry, this supply chain will contribute to the successful ramp-up of the Rafale, and, with our support, will meet our quality and competitiveness requirements', said Eric Trappier, Chairman and CEO of Dassault Aviation. This partnership aims to strengthen India's position as a key player in the global aerospace supply chain while supporting its goal of greater economic self-reliance. Tata Advanced Systems Limited, a wholly owned subsidiary of Tata Sons, is a significant player for aerospace and defence solutions in India. It offers a full range of integrated solutions across: Aerostructures, Aeroengines, Airborne Platforms Systems, Defence & Security, and land Mobility. Sukaran Singh, Chief Executive Officer and Managing Director, Tata Advanced Systems Limited, said, 'This partnership marks a significant step in India's aerospace journey. The production of the complete Rafale fuselage in India underscores the deepening trust in Tata Advanced Systems' capabilities and the strength of our collaboration with Dassault Aviation. It also reflects the remarkable progress India has made in establishing a modern, robust aerospace manufacturing ecosystem that can support global platforms.'
NDTV
14 minutes ago
- NDTV
Sudarshan Venu To Take Over As Chairman And Managing Director Of TVS Motor Company
In a significant leadership transition, TVS Motor Company has announced that Sudarshan Venu will be appointed as the Chairman and Managing Director of the company, effective August 25, 2025. The decision was made unanimously by the company's Board of Directors, recognising Venu's pivotal role in steering TVS Motor through a phase of consistent growth and strategic evolution during his tenure on the Board. Venu, who currently serves as the Managing Director, will succeed Sir Ralf Speth, the current Chairman of the Board. Sir Ralf has informed the Board that he will not seek reappointment as Director at the upcoming Annual General Meeting (AGM) scheduled for August 22, 2025. He will formally step down from the Chairmanship at the conclusion of the AGM. Sudarshan Venu said, "I am very thankful to the Board for giving me this singular opportunity. I am really honoured and excited for the future and look forward to their continued support. TVS has been built on our Chairman Emeritus's commitment to customer centricity, quality and technology. As we look to the future we have to build on these values while capitalising on new opportunities and reimagining for the future. I am most grateful to him for his continued guidance. Sir Ralf has been instrumental in challenging and mentoring us to expand more globally, onboard international talent, embrace newer processes, and invest in future products and technology. I look forward to his continued mentorship as our chief mentor. Importantly, TVS has grown due to the passion and energy of the entire team. I look forward to the continued partnership in our shared future." However, Sir Ralf's association with TVS Motor will continue in a new capacity. The board has approved his appointment as chief mentor of the company for a three-year term starting August 23, 2025. In this role, he is expected to provide strategic counsel, drawing on his extensive global experience in the automotive industry.
