India's finance minister in her budget speech proposed a tax holiday for aircraft-leasing companies and tax exemptions for airlines paying lease rentals to foreign lessors if they choose to be based in the country's upcoming international finance hub.
The government plans to turn India into a global maintenance, repair and overhaul hub for Indian and foreign commercial aircraft. To increase India’s global competitiveness in a post-Covid world, the Finance Minister announced plans to liberalise the sector to encourage its growth.
The impact of the coronavirus on the aviation industry will transform global travel in myriad ways. Highlights: The coronavirus pandemic is causing a massive strain on the aviation industry due to restrictions on travel. In India, the biggest impact will be felt by state-owned Air India. A series of interim solutions are being looked into by governments around the world to try and keep grounded airlines afloat and save the cash-poor ones from bankruptcy. The one standout outcome of [...]
As summer approaches in both China and India, the chances of the virus outbreak dissipating will brighten. Like all challenges, it will bring significant opportunities. Highlights: India’s mobile phone and electronics manufacturing sectors have been impacted by the coronavirus outbreak as almost 75 per cent of all components needed by these industries come from China. The continuing decline in global crude prices due to the outbreak will help India keep both the fiscal and current account deficits in check. Several [...]
The German city can help resolve some of the challenges faced by India’s developing economy, says the Managing Director of the region’s leading investment promotion agencies. Highlights: The mix of economic potential and a high quality of life makes Hamburg the powerful heart of northern Europe. Several research and innovation parks in Hamburg offer commercial spaces for innovative companies, research facilities and entrepreneurs, providing the ideal breeding ground for upcoming world market leaders. Sectors like aviation, infrastructure, technology, healthcare, maritime [...]
As Indian Defence Minister Rajnath Singh flew a sortie in a brand new Rafale fighter jet acquired for the Indian Air Force (IAF) in France, it marked a step change in bilateral ties which are expected to spill over into Make in India gains. India’s Defence Minister, Rajnath Singh, declared the French-made Rafale fighter jet as an exponential boost for the country’s air dominance moments after he flew a sortie at Merignac Airport in Bordeaux, France, in the first of [...]
Indian airlines are growing the fastest in the world, but a majority of them are also losing money. A number of factors, such as the world’s highest aviation turbine fuel prices and problems with some aircraft brands, are challenges they need to overcome but there’s massive room for growth as a majority of Indians still consider flying very expensive. India’s oldest private sector airline, Jet Airways, downed shutters “temporarily” in April as lenders tried to find a white knight buyer [...]
Indian companies have been fairly active in the African continents, which offers the country an extremely lucrative market. Given China’s head-start in the region, India’s state-owned enterprise interest in Africa is long-overdue. Here are just some recent snapshots of the India-Africa story.
British Airways recently became one of the first airlines to offer Indian students moving to the UK extra baggage allowance with the aim of attracting a major chunk of Indian air traffic across the globe.