On Wednesday, Mr. Ross McInnes, the Group Chairman of SAFRAN, the world's largest aerospace and military company, met with Prime Minister Narendra Modi.
Safran Group, a global aerospace and defense giant, is making significant inroads into the Indian aviation market.
The French company is set to invest Euro 36 million in a production facility in Hyderabad that will manufacture components for advanced aircraft engines.
Additionally, it is partnering with India's state-run aerospace major HAL in Bengaluru to produce engines for helicopters.
The Indian aviation industry is growing at a rapid pace, providing immense scope for companies operating in this sector.
Safran's expansion plans in India are a testament to the country's burgeoning aviation market.
The company's technological partnership with India in the defense and space sector is a step in the right direction and will pave the way for more collaboration between the two countries in the future.
The setting up of an MRO (maintenance, repair, and overhaul) facility in Hyderabad, which will involve a foreign direct investment of USD 150 million, is a significant development.
The facility will cater to the LEAP-1A and LEAP-1B engines used in both Indian and foreign commercial aircraft.
This move will create job opportunities and boost the local economy in Hyderabad.
These projects are being undertaken as part of PM Modi's Make in India campaign, which aims to boost domestic manufacturing and attract foreign investment to the country.
Safran's investment in India is a positive development and will contribute to the campaign's success.
Safran's plans to expand its operations in India are a positive development for the Indian aviation industry.
The company's investment in the country will create job opportunities, boost the local economy, and pave the way for more collaboration between France and India in the future.
This move aligns with the Make in India campaign's objectives and will contribute to its success.