Nirmala Sitharaman Pitches India As Maintenance And Overhaul Hub To Boeing Team
The trip also assumes significance in the context of the Air-India Boeing deal announced in February.
Union Finance Minister Nirmala Sitharaman pitched for India to be considered as a maintenance and repair overhaul hub for Boeing—to potentially serve geographies from Europe to Africa and further East.
In a Twitter post on Tuesday, the Finance Ministry said that the delegation comprised the global senior leadership team, led by Salil Gupte, president of Boeing India, in New Delhi.
Sitharaman also highlighted the business opportunities in the country for the brand.
The trip assumes significance in the context of the Air India-Boeing deal announced in February. Air India placed an order worth $34 billion at the list price to purchase 190 B737 MAX, 20 B787, and 10 B777X aircraft, as part of the agreement. The deal is expected to create a million jobs in the U.S.
"In reference to the recent bulk order for aircrafts placed by Indian companies, FM stated that India’s aerospace and civil market is on a high growth trajectory and also informed the group about aircraft leasing operations being undertaken by banks in GIFT-IFSC," the ministry said in the Twitter post.
Referring to #AmritKaal, FM informed the group that the key focus of the Government is to benefit the citizens of India through the four "I"s of:— Ministry of Finance (@FinMinIndia) May 23, 2023
The Finance Minister also spoke on the opportunities in the country for relocating companies—that would benefit from both a captive market and a chance to build a hub for serving the region as a whole.