GE Aerospace CEO lauds PM Modi's UDAN vision, announces new investments in India

New Delhi, Oct 21 (IANS) Vikram Rai, the CEO of GE Aerospace in South Asia heaped praise on Modi government's 'Ude Desh ka Aam Nagrik' (UDAN) initiative' and emphasized on the aerospace industry's efforts and endeavour in providing convenient, safe, and sustainable flight solutions connecting every city and town.Speaking at the NDTV World Summit, Vikram Rai acknowledged the aerospace sector's contribution in India's growth and highlighted how the country was catching up with bigger markets like China and the US. He also revealed company's plans to announce a $2.3 million global investment in skills development, with a portion benefiting Indian polytechnics."As the Prime Minister highlighted, India is on track to cross the $5 trillion mark. This progress reflects the nation's remarkable achievements over the past few decades," he said.He stressed on government's strong infrastructure push and said that the number of airports in India has doubled in the past decade under Modi government. "We will touch about 220 airports this decade," Rai added, underscoring the industry's commitment to realising PM Modi's vision of UDAN."The Indian middle class is now taking flights more frequently, thanks to the government's business-friendly economic policies. India currently has about 800 aircraft, with 1,500 more on order, set to be delivered over the next decade. Two of the world's largest aircraft orders have come from Indian carriers," he continued.Rai highlighted India's vast potential for growth in aviation, comparing India's 0.20 seats per capita to China and the US, which have 7 and 4 seats per capita, respectively."Less than 5 per cent of Indians have ever flown, and 85 per cent of domestic traffic is concentrated in metro areas, showing enormous room for expansion," he explained.On the industry's dedication to sustainable aviation, Rai said, "Indian airlines have begun test flights with sustainable aviation fuel. At GE Aerospace, we have developed new engines that are 10-15 per cent more fuel-efficient, and we are working on designs that will be 25 per cent more efficient."Rai highlighted GE Aerospace's long-standing partnership with India's aviation industry, noting that the company has been a key player for over 40 years.He pointed to GE's Pune factory, which has been operational since 2015, producing engine components used globally. "This year, we announced a $30 million investment to expand this facility, which has trained over 5,000 polytechnic graduates in precision manufacturing."Announcing a $2.3 million global investment in skills development, focusing on benefiting Indian polytechnics, Rai said, "Our engineers in Bengaluru are working on next-generation technologies, laying the groundwork for a robust supply chain ecosystem."In the defence sector, Rai highlighted GE's collaboration with Hindustan Aeronautical Limited (HAL), which assembles GE's LM2500 marine propulsion engines for the Indian Navy and will soon manufacture F414 military engines in India."The aerospace industry is a key driver of India's economic growth and a flag-bearer of our local manufacturing ambitions. We're making significant progress in the Indigenous production of aircraft parts, both commercial and defence, space exploration, and cutting-edge defence technologies. This sector is creating high-skill jobs and attracting valuable investments," he noted.Rai concluded by stressing GE Aerospace's global responsibility., "Over 900,000 people worldwide are flying on GE Aerospace technology at any given moment. This is a great responsibility, and we take it seriously."--IANSsd/mr

Yubaraj

Oct 21, 2024 - 09:04

New Delhi, Oct 21 (IANS) Vikram Rai, the CEO of GE Aerospace in South Asia heaped praise on Modi government's 'Ude Desh ka Aam Nagrik' (UDAN) initiative' and emphasized on the aerospace industry's efforts and endeavour in providing convenient, safe, and sustainable flight solutions connecting every city and town.

Speaking at the NDTV World Summit, Vikram Rai acknowledged the aerospace sector's contribution in India's growth and highlighted how the country was catching up with bigger markets like China and the US. He also revealed company's plans to announce a $2.3 million global investment in skills development, with a portion benefiting Indian polytechnics.

"As the Prime Minister highlighted, India is on track to cross the $5 trillion mark. This progress reflects the nation's remarkable achievements over the past few decades," he said.

He stressed on government's strong infrastructure push and said that the number of airports in India has doubled in the past decade under Modi government.

"We will touch about 220 airports this decade," Rai added, underscoring the industry's commitment to realising PM Modi's vision of UDAN.

"The Indian middle class is now taking flights more frequently, thanks to the government's business-friendly economic policies. India currently has about 800 aircraft, with 1,500 more on order, set to be delivered over the next decade. Two of the world's largest aircraft orders have come from Indian carriers," he continued.

Rai highlighted India's vast potential for growth in aviation, comparing India's 0.20 seats per capita to China and the US, which have 7 and 4 seats per capita, respectively.

"Less than 5 per cent of Indians have ever flown, and 85 per cent of domestic traffic is concentrated in metro areas, showing enormous room for expansion," he explained.

On the industry's dedication to sustainable aviation, Rai said, "Indian airlines have begun test flights with sustainable aviation fuel. At GE Aerospace, we have developed new engines that are 10-15 per cent more fuel-efficient, and we are working on designs that will be 25 per cent more efficient."

Rai highlighted GE Aerospace's long-standing partnership with India's aviation industry, noting that the company has been a key player for over 40 years.

He pointed to GE's Pune factory, which has been operational since 2015, producing engine components used globally. "This year, we announced a $30 million investment to expand this facility, which has trained over 5,000 polytechnic graduates in precision manufacturing."

Announcing a $2.3 million global investment in skills development, focusing on benefiting Indian polytechnics, Rai said, "Our engineers in Bengaluru are working on next-generation technologies, laying the groundwork for a robust supply chain ecosystem."

In the defence sector, Rai highlighted GE's collaboration with Hindustan Aeronautical Limited (HAL), which assembles GE's LM2500 marine propulsion engines for the Indian Navy and will soon manufacture F414 military engines in India.

"The aerospace industry is a key driver of India's economic growth and a flag-bearer of our local manufacturing ambitions. We're making significant progress in the Indigenous production of aircraft parts, both commercial and defence, space exploration, and cutting-edge defence technologies. This sector is creating high-skill jobs and attracting valuable investments," he noted.

Rai concluded by stressing GE Aerospace's global responsibility.,

"Over 900,000 people worldwide are flying on GE Aerospace technology at any given moment. This is a great responsibility, and we take it seriously."

--IANS

sd/mr

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