9NOVEMBER 2024INDIA'S MILITARY AIRCRAFT MANUFACTURING DREAM TAKES FLIGHTCENTRAL GOVT'S INFRASTRUCTURE INITIATIVE DRIVING GROWTH IN CEMENT SECTORPrime Minister Narendra Modi and Spanish Prime Minister Pedro Sanchez inaugurated the Tata Aircraft Complex in Vadodara, Gujarat, marking a milestone for India's defense self-reliance with the production of India's first privately built military aircraft, the C-295. This manufacturing facility, part of India's Atmanirbhar Bharat initiative, is the country's first private-sector Final Assembly Line (FAL) for military aircraft.The project stems from a 21,935-crore agreement signed in 2021 between India's Ministry of Defence and Airbus Defence and Space, Spain, to replace the Indian Air Force's aging Avro-748 fleet with 56 C-295 transport aircraft. Under this deal, 16 aircraft will be fully assembled in Spain, while the remaining 40 will be assembled locally at the Tata Advanced Systems Limited (TASL) facility in Vadodara. The first locally assembled C-295 is expected by September 2026, with all units delivered by August 2031. Considering the market for aircraft manufacturing indusry, it was worth $296.6 billion in 2021 and is forecasted to hit $476.4 billion by 2031, with a 5 percent annual growth rate from 2022 to 2031.PM Modi emphasized the importance of the C-295 manufacturing facility in strengthening India-Spain relations and furthering the 'Make in India, Make for the World' mission, underscoring its role in India's global manufacturing goals. Ambuja Cements announced in a press release, published together with their Q2FY25 earnings, "Strong infrastructure demand and ongoing needs from the housing and commercial sectors are anticipated to boost cement demand in H2 FY 2025."The cement producer stated that the enactment of the Pradhan Mantri Awas Yojana (PMAY) Urban Housing 2.0, with a budget of 11 lakh crore rupees, is projected to also positively influence the business."Strategic investments in roads, railways along with urban and commercial amenities, is poised to drive robust growth," mentioned the Adani-owned enterprise.In the second quarter ending September 2024, Ambuja Cements recorded a standalone net profit of 501 crore rupees, indicating a 22 percent cut from the 644 crore rupees earned in the corresponding quarter of the last year.In September, Ambuja Cements publicized in its report that it had inked a binding contract with Orient Cements to acquire a 46.8 percent equity stake. Additionally, the company became the first cement business globally to join the Alliance for Industry Decarbonization (AFID).After successfully concluding this contract, the company strategizes to accomplish a production capacity exceeding 100 million tonnes per year by the end of the financial year. Ambuja Cements specified in a press release that growth is anticipated for the cement industry in the second half of FY 2025 due to the Centre's weight on infrastructure development and demands from the housing and commercial sectors.
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