French aerospace major Airbus has offered to support Prime Minister Narendra Modi's `Make In India' initiative with an increase in its Indian outsourcing to $2 billion, even as the aircraft manufacturer expressed its readiness to manufacture helicopters, satellites and military transport planes in India
The offer was made during Modi's visit to Airbus's manufacturing facility at Toulouse, in southern France today.
Airbus Group CEO Tom Enders said in a statement his company was ''ready to manufacture in India, for India and the world,'' including final assembly lines and supply chains.
Airbus also assured Modi that it will increase its outsourcing from India from $400 million at present to $2 billion (around Rs12,400 crore) over the next five years.
External affairs ministry spokesperson Syed Akbaruddin tweeted: ''500 per cent 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.
Airbus already operates two engineering centres in India – for civil and defence projects – as also a research and technology centre. The company did not give details of its outsourcing and potential expansion.
During his visit to France, India signed 20 agreements and MoUs in energy, transport and space exploration in addition to an agreement to buy 36 Rafale combat jets.
Modi arrived in France on Thursday on the first leg of his three-nation tour, which will also take him to Germany and Canada.