India will need at least another 1,000 aircraft to ensure the success of the regional connectivity scheme, UDAN. This would mean acquiring two civilian aircraft every week over the next few years, says Aeronautical Society of India (AeSI) chairman, R K Tyagi.
The option is to either import these aeroplanes or our industries should be geared to develop them indigenously, notes Tyagi, who had earlier served as Chairman, Hindustan Aeronautics Limited (HAL).
The country has a huge potential for industrial growth in defence and aerospace (both civil and military). But there are also challenges of meeting the financial needs for mega aviation projects.
In this regard, it is critical to think of establishing an organisation like Indian Defence Finance Corporation (IDFC) on the lines of the Indian Railway Finance Corporation, IRFC, Tyagi suggested
at a seminar on “Energising Indigenisation in Aerospace and Defence” organised by AeSI and the Society of Indian Technologies and Industries (SIATI) here on Friday.
“With Defence Corridors planned in Tamilnadu and Uttar Pradesh, other initiatives of the Government, opportunities will abound in these sectors and we will need more money than ever,” he said.
