Odisha News Insight

Airbus to increase Indian Outsourcing to $2 billion @ 5 Years

Modi-Airbus-ToulouseAirbus Industries has assured Prime Minister Narendra Modi that its Indian outsourcing will increase from $400 million to $2 billion over the next five years as part of the Indian government’s ‘Make in India’ initiative.

External affairs ministry spokesperson Syed Akbaruddin tweeted: “500% increase in 5 years. @Airbus to PMA @narendramodi : Indian outsourcing to increase from $400 mil to $2 billion.”

“Make in India gains further momentum. $2 billion cumulative outsourcing planned by @Airbus from India by 2020,” he posted.

This was conveyed to Modi during his tour of the Airbus headquarters in Toulouse, in southern France, where he flew down from Paris using his Boeing 747-400, which is Airbus’ main rival in the market. Modi arrived in France on Thursday on the first leg of his three-nation tour, which will also take him to Germany and Canada.

Accompanied by French Foreign Minister Laurent Fabius, Modi went around the Airbus A 380 Assembly Line Facility in Toulouse. After the visit to Airbus, Modi went to the French space agency CNES.

He will later go to Lille to visit the Neuve Chapelle war memorial to pay homage to the 10,000 Indian soldiers who were killed during World War I.

The Indian prime minister will return to Paris and attend a reception by the Indian community and also meet former French president Nicolas Sarkozy.

On Friday, Modi held talks with President Francois Hollande and both sides inked 17 agreements and three letters of intent. India also said it is buying 36 Rafale fighter jets in fly away condition as soon as possible. Modi leaves for Germany on Sunday. (IANS)

Leave a comment