Official investment announcements from European companies or governments

PM Modi, Spanish PM Sanchez Inaugurate Rs 21,935 Crore C-295 Aircraft Plant in Gujarat

Oct 28, 2024, 04:27 AM

On October 28, Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez jointly inaugurated the Tata Aircraft Complex for manufacturing C-295 military aircraft at Tata Advanced Systems Limited (TASL) in Vadodara, Gujarat. This Rs 21,935 crore ($2.5 billion) facility marks India's first private sector final assembly line for military aircraft and represents a significant milestone in the country's 'Make in India' initiative. The project stems from a contract signed in 2021 between India and Airbus for the supply of 56 C-295 aircraft to the Indian Air Force. Sixteen aircraft will be delivered directly by Airbus, while the remaining 40 will be manufactured in India by Tata, with the first Indian-made C-295 expected to roll out in September 2026. The C-295 aircraft can carry up to 50 paratroopers or 72 troops, enhancing the Indian Air Force's tactical capabilities. This inauguration coincided with the first visit by a Spanish Prime Minister to India in nearly two decades, highlighting the strengthening partnership between India and Spain in the defense and aerospace sectors. During the event, PM Modi remembered the late Ratan Tata, crediting his vision for the project's conception in 2012. The collaboration is expected to boost India's aerospace industry and open doors for other European companies to invest in the country.