Tata Sons chairman emeritus Ratan Tata on Friday said the Airbus-Tata Defence deal, would bolster India’s equity framework.
He was commenting on the Defence deal for the acquisition of 56 Airbus C-295 transport aircraft for the Indian Air Force, of which 40 will be manufactured and assembled by Tata Advanced Systems Ltd. in India.
“The clearance of the joint project between Airbus Defence and Tata Advanced Systems to build the C-295 is a great step forward in the opening up of aviation and avionics projects in India,” Mr. Tata said.
“The C-295 is a multi-role aircraft with several reconfigurations to meet mission requirements. It envisages total manufacturing of the aircraft in India. it will create a domestic supply chain capability to international standards, which has never been undertaken before,” he said.
“The Tata Group congratulates Airbus and the Indian Defence Ministry for this bold step in fully building this state-of-the-art multi-role aircraft in India in support of the ‘Make in India’ thrust to bolster the country’s equity framework,” he added.