Tuesday, June 27, 2017

India & America must work together to create jobs: SpiceJet Chairman

In an interview to CNBC-TV18's Shereen Bhan, Ajay Singh, Chairman of SpiceJet spoke about the potential of the aviation sector in India.

Below is the verbatim transcript of the interview.

Q: Aviation clearly is a big focus area of opportunity and collaboration. In fact the Prime Minister mentioning the aviation sector and the possibilities this morning.

A: India is the fastest growing aviation market in the world today. We are growing at 20-25 percent and despite that growth, just about 3 percent of Indians fly. So, there is obviously great potential and therefore there is great potential to buy planes.

SpiceJet has bought up to 205 aircrafts from Boeing. They are worth USD 22 billion. As per the United States Department of Commerce, that creates 1,32,000 American jobs, high paid, high skilled American jobs right here in the United States. So, I think that is great leverage that we have on the Americans to say to them that as India grows, and as India prospers there will be more and more jobs created for Americans in the United States.

Q: Is that how you believe India should pitch the Make in India and Make America Great Again story, it isn't an either or but it has to be jointly sold.

A: It has to be both because as India builds smart cities, as we build our roads, airports, and ports, there will be huge numbers of American jobs created here in India. However, if India is to provide this massive market to the Americans, then the Americans must also try and work along with India to give a fillip to India’s Make in India program. It is only fair that we should have aircraft, for example, built in India for Indians and so as we create jobs for them here, they must create jobs for Indians in India.
27/06/17 CNBC-TV18/moneycontrol.com