Hyderabad (Telangana) [India], November 26 : Prime Minister Narendra Modi on Wednesday said that India is dreaming big, doing bigger and delivering the best as he urged investors to come to India as co creators in the journey of a developed India.
Stating that India's aviation sector is set to take a new leap forward, PM Modi inaugurated Safran Aircraft Engine Services' new Maintenance, Repair and Overhaul (MRO) facility in Hyderabad.
The Prime Minister, who attended the ceremony via video conferencing, said that the upcoming Safran's largest Indian Engine Maintenance, Repair and Overhaul (MRO) facility at the GMR Aerospace & Industrial Park, would strengthen India's position as a global MRO hub.
PM Modi said the facility marked a significant step in India's efforts to localise high-value aviation services and will "create opportunities for the youths in the world of high-tech space."
"We consider those investing in India not just as investors, but as co-creators. We consider them stakeholders in the journey of a developed India."
"In the past few years, India's aviation sector has advanced at an unprecedented pace. Today, India is among the fastest-growing domestic aviation markets in the world. Our domestic market is now the third-largest globally. The aspirations of the people of India are reaching the skies," PM Modi said.
Modi noted that India historically depended on overseas facilities, with "85 per cent MRO work done on foreign land," resulting in high costs and long aircraft grounding periods. He said the government was now working to change this situation.
"With the rapid expansion of India's aviation sector, the need for maintenance, repair and MRO services has grown significantly. Nearly 85 per cent of our MRO work was being carried out overseas, which increased costs, caused delays, and kept aircraft grounded for long periods. This is why the Government of India is now actively developing the country as a strong MRO hub," PM Modi said.
He said he met with and interacted with the Safran Board and management on November 24. "In every discussion, I have sensed their strong confidence in India's potential and their commitment to its growth," he said.
"I hope Safran will continue to invest in India in the future at the same pace," he said, congratulating the company on the launch.
The Prime Minister highlighted rapid expansion in the domestic aviation market, which has emerged as the world's third-largest. He said rising passenger demand and fleet expansion by Indian carriers, who have ordered over 1,500 new aircraft, had sharply increased the need for MRO services within the country.
"India is launching the global OEM deep-level servicing for the first time. With the help of Safran, India's aviation sector will move in a positive direction," he said.
The Prime Minister added that the new unit would generate employment for youth in southern India and align with wider efforts to promote domestic capabilities. "We just don't want to settle on aviation MRO; we are also working on shipping MRO. We are promoting Design in India in every sector on a large scale," he said.
Calling on Safran to expand its work in engine and component design in India, Modi said, "Our MSMEs and young talent pool will help you in this."
He also said, "I will tell investors that betting on India is the smartest decision of this decade".
Urging the company to hire Indian engineers in propulsion system design and manufacturing, he said New India is "not just dreaming big but also taking big decisions. We are dreaming big, doing bigger and delivering the biggest."