SPV for regional transport planes manufacturing on cards

NEW DELHI: Government is in the process of setting up a special purpose vehicle (SPV) for making regional transport planes, civil aviation minister K Rammohan Naidu said on Monday as he asserted that necessary policies are in place for India to manufacture aircraft and their components.

Replying to questions in RS, Naidu mentioned the steps taken by government to promote aircraft component manufacturing, and maintenance, repair and overhaul (MRO) activities, including having a uniform IGST rate. He said there is a plan to create SPV for five years, and this is going to bring in all the necessary stakeholders, study the existing scenario in the country and create a road map. The idea is to make aircraft in five years, he said.

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