President Pranab Mukherjee today said India is poised to become a major manufacturing base for the aerospace sector.
Inaugurating India Aviation 2016 at Hyderabad, the President said with the Government focussing on Make in India and the projected growth of the aviation sector and its potential to become the third largest market by 2020, it offers immense scope for investments.
Over the last decade, Indian civil aviation has grown by about 14 per cent per annum and is expected to see robust growth. This has attracted global aviation players to keenly watch the progress and be part of the growth story.
The flexible norms for FDI are expected to attract huge investments as India becomes a major manufacturing hub.
India is one of the fastest growing economies and is poised to become one of the top three manufacturing countries in the world, he said.
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