Prime Minister Narendra Modi on Wednesday reaffirmed that India is taking decisive strides towards becoming a global economic and technological powerhouse, stating that the nation is ‘dreaming big, doing bigger and delivering best’.
Speaking virtually at the inauguration of the Safran Aircraft Engine Services India facility in Hyderabad, he said today’s India not only envisions ambitious goals but also achieves remarkable results through bold decision-making.
PM Modi underscored that India has projected a strong message of openness to investment and innovation. He credited the Production-Linked Incentive (PLI) scheme for drawing global manufacturers to the ‘Make in India’ initiative, highlighting the government’s efforts to simplify business processes.
He said the government has reduced over 40,000 compliance in the past 11 years and consolidated multiple approvals into a single, streamlined platform through the National Single Window System.
“India has opened its economy, strengthened its fundamentals and made business processes simpler,” he said.
The Prime Minister also pointed to progressive reforms in strategic sectors, including defence and space, where private participation was once limited. He emphasised that up to 74 per cent of FDI is now permitted through the automatic route in defence manufacturing.
Safran Facility Marks Boost for Aviation Sector
Calling the launch of Safran’s facility a ‘new chapter’ in India’s aviation journey, PM Modi said the development strengthens the country’s aspiration to become a global hub for maintenance, repair and overhaul (MRO) operations.
With Indian airlines placing orders for more than 1,500 aircraft, he emphasised the need to expand domestic MRO capabilities.
Earlier, foreign facilities handled nearly 85 per cent of India’s MRO work, which increased expenses, caused delays and prolonged aircraft grounding.
PM Modi stated that the Safran project will create significant opportunities for young people in the high-tech and aerospace fields. He added that the company’s global training experience and knowledge-sharing partnership with Indian institutions will help develop a highly skilled workforce, essential for sustaining the future of the country’s MRO ecosystem.
As India accelerates its reform-driven growth, the Prime Minister reiterated that the nation remains committed to encouraging innovation, fostering a business-friendly environment and scaling up its global competitiveness.
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