Parul
The Yogi government plans to launch a new initiative this month on 1,000 acres of land near Noida International Airport Limited (NIAL), which is being developed in Jewar, to transform Uttar Pradesh into an aviation hub.
The proposal calls for the establishment of assembling and manufacturing operations for aeroplane parts as well as full aeroplanes. Along with Indian firms, several foreign firms, especially those in the United States, are anxious to establish branches.
NIAL is constructing Asia’s largest airport in Jewar which will help India in becoming an aviation manufacturing hub. With this, India will be able to not only repair its own aircraft, but also provide maintenance and repair services to aircraft from other countries. Previously, India had to have its planes repaired in other countries.
Arunvir Singh, CEO of the Yamuna Expressway Industrial Development Authority (YEIDA), stated that the acquisition of 1,365 hectares of land in the second phase of Noida International Airport is under underway. This location will be developed as a Maintenance, Repair, and Overhaul (MRO) facility as well as an aviation hub.
He stated that NIAL has decided to build this aviation centre, which will span one thousand acres and be divided into five-acre blocks. Larger tracts of land will also be made available for anchor units.
An Aviation Manufacturing Scheme will be implemented in the near future to aid with this development. This initiative will encourage aeroplane assembly companies, engine manufacturing firms, nozzle manufacturing firms, and other aircraft equipment manufacturing corporations to set up shop.
Singh further added, “Numerous companies are eager to invest in this project. Discussions and meetings have already taken place with many companies through the American Embassy.”
According to Singh, the UP Cabinet has announced an FDI policy aimed at providing incentives to international enterprises. Foreign companies will receive a 75 per cent land subsidy, capital subsidies of up to Rs 100 crore, a 100 per cent state GST reimbursement for a period of ten years, and financial support of Rs 5,000 for seven years for up to 500 individuals engaged in patenting, training, and skill development, according to FDI policy.
Additionally, customs exemptions will be allowed for the importation of foreign-made equipment. Singh stressed the importance of this opportunity for aviation hubs and international investment. This policy allows foreign enterprises to enter the market.
PwC has been tasked with creating the layout for expanding the aircraft manufacturing industry at Jewar International Airport. As soon as its layout is complete, a meeting of the NIAL Board will be held to make decisions on the scheme’s implementation. The effort is likely to create job opportunities and realise the idea of an aircraft manufacturing and MRO hub, he added.
