New Delhi, March 11 -- Civil Aviation Minister K Rammohan Naidu announced on Monday that the government is establishing a special purpose vehicle dedicated to manufacturing regional transport aircraft.

Speaking in the Rajya Sabha, the minister affirmed that India now has the necessary policies in place to manufacture aircraft and their components domestically.

Responding to questions, Naidu highlighted various government initiatives to promote aircraft component manufacturing and Maintenance, Repair and Overhaul (MRO) activities, including the implementation of a uniform IGST rate.

This comes as India continues to strengthen its position as one of the world's fastest-growing civil aviation markets, with domestic carriers having placed ...