Hyderabad: Prime Minister Narendra Modi on Wednesday said that today’s India is not only dreaming big but also taking bold decisions and achieving even bigger results.
PM Modi stressed that India has sent a strong message to the world that it welcomes investment and innovation, adding that the Production-Linked Incentive (PLI) scheme has played a major role in attracting global manufacturers towards the ‘Make in India’ initiative.
“We are dreaming big, doing bigger and delivering best,” PM Modi said.
PM Modi highlighted that more than 40,000 compliances have been reduced in the past 11 years, while the National Single Window System has brought multiple approvals onto one platform.
Speaking virtually at the inauguration of the Safran Aircraft Engine Services India facility in Hyderabad, the Prime Minister said that today’s India not only dreams big but also takes bold decisions and achieves even bigger results. He added that India’s focus remains on improving the Ease of Doing Business.
PM Modi said the launch of Safran’s new facility marks a new chapter for India’s aviation sector.
The Prime Minister noted that the facility will help position India as a global MRO (maintenance, repair and overhaul) hub and create new opportunities for youth in the high-tech and aerospace sectors.
PM Modi pointed out that several major reforms have been introduced in recent years to attract global investors and industries.
“India has opened its economy, strengthened its fundamentals and made business processes simpler,” the Prime Minister stated.
“Even in sectors like defence, where private players once had limited access, up to 74 per cent FDI is now allowed through the automatic route. A progressive approach has been adopted in the space sector as well,” PM Modi said.
The Prime Minister noted that with India’s aviation sector expanding rapidly, the need for MRO facilities has grown significantly. Indian airlines have placed orders for more than 1,500 aircraft.
“However, nearly 85 per cent of India’s MRO work used to be done abroad, increasing costs, causing delays and keeping aircraft grounded for long periods,” PM Modi mentioned.
PM Modi added that Safran’s global training expertise and knowledge-sharing partnership with Indian institutions will help build a skilled workforce capable of driving the future of India’s MRO ecosystem.
(IANS)
