CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
India took the first step towards legalising drones by officially publishing draft rules for drone operations in the Official Gazette on Friday. The rules, termed The Unmanned Aircraft System Rules, 2020, are open for public consultation for 30 days.
For Jet's revival, Mr Jalan should be on the scene long enough for everyone to get to know him, appreciate his skills, and not vanish into thin air within a matter of months or even weeks, observes Anjuli Bhargava.
'Our focus is not going to be metro to metro routes.' 'We will begin by focusing on metro to non-metro (routes).' 'Metro to tier-2 cities or tier-3 cities is where there is a lot of space for affordable, efficient carriers.'
Candidates will be short-listed for interview on the basis of the information provided by them in their online application, the statement said.
The Indian economy requires a Rs 3 lakh crore fiscal stimulus, including cash transfer to households through Jan Dhan accounts to spur economic growth amid the pandemic, industry chamber CII said on Thursday and pitched for appointment of a 'Vaccine Czar' for speedy vaccination coverage. CII president T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22 as the strong growth in the second half of the fiscal year will be supported by robust external demand and large-scale coverage of vaccination, allowing resumption of economic activity. He also advocated for appointment of a "Vaccine Czar" for speedy vaccination coverage.
Inching closer to launch its operations, new no-frill carrier AirAsia India on Saturday took delivery of its first Airbus A-320 as it landed in Chennai after flying in from Toulouse headquarters of the European aircraft manufacturer.
The capability of drones to evade radar, wreak devastation at strategic installations and transport weapons to terrorists has been a continuous concern for the country's security establishment, and in a maiden incident, these unmanned vehicles were used to strike an Indian Air Force base in Jammu on Sunday, officials said.
Discussing the prospect of more reform earlier this month, telecom minister Ashwini Vaishnaw announced a delay in the 5G spectrum auction. India's telecom sector regulation has to be benchmarked with the global best, he said. It's another matter that many countries have either introduced or are about to roll out 5G services that will enable cutting-edge tech in diverse areas. For India, too, it will mean a lot for healthcare, robotics and unleashing a new chapter in Digital India perhaps.
Despite adding no new aircraft, Jet Airways saw more departures during the year, it flew more people, and achieved a higher load
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
Billionaire Gautam Adani's Adani group on Monday said it has reached an agreement to acquire GVK group's shareholding and control of Mumbai airport.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
Indian airlines are expected to post a consolidated loss of $4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around $8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. In a report, CAPA expects domestic passenger traffic to be around 80-95 million in 2021-22 as against 52.5 million in the previous financial year. However, despite this growth, it will be well below than around 140 million passenger volumes recorded in 2019-20, CAPA said in the report. This projection of the traffic volume does not take into account the anticipated third wave of the pandemic, it added.
The issue had come up during a presentation by the Civil Aviation Ministry.
With a debt of several thousand crore rupees, there's no chance the government can attract any buyer unless it cleans up the balance sheet, says Anjuli Bhargava.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
The aircraft involved in the incident were operating on Coimbatore-Hyderabad and Bengaluru-Cochin routes.
The national carrier currently has 15 recognised trade unions.
'If the business doesn't recover in next 6-10 months, there might be situation where there would be some lay-offs...That may be required for survival and to ensure livelihood to millions of people.'
The move by four airlines -- IndiGo, Air India, SpiceJet and GoAir -- to suspend the stand-up comedian raises fears that the government can use the no-fly list to settle political scores, undermine the freedom of citizens.
India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
French observers point out that Paris had no choice but to issue a denial given the importance of India's Rafale purchase for France's aerospace industry.
Besides aircraft, passenger drones, helicopters, turboprops and seaplanes will help the government achieve its ambitious goal
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies, he said. Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.
'This is a huge step in promoting the 'Make in India' mission as this bio-fuel would be produced from Tree Borne Oils sourced from tribal areas and farmers.'
He accused Jaitley of having the ability to spin "two truths or lies" with "fake self-righteousness" and "indignation to defend the indefensible".
'After the audience watches the film, if they say Rakul stood her ground in front of Ajay Devgn and Amitji.' 'That's what will be important.'
Dravida Munnetra Kazhagam MP Kanimozhi on Sunday said a Central Industrial Security Force officer asked her if she was an Indian, when she asked the woman official to speak in Tamil or English.
While four of the directors would be nominated by Tata Sons, the other two would be representatives of Singapore Airlines.
'We should have calmed down the child. We will do an internal analysis on that.'
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
Fifteen Cabinet ministers and 28 Ministers of State were sworn-in by President Ram Nath Kovind at a ceremony at Rashtrapati Bhavan on Wednesday evening.
'Industry observers are certain the next attempt will succeed even if they have to browbeat someone into buying as the government has put its might behind it,' predicts Anjuli Bhargava.
Eight new cases of the Omicron variant of coronavirus were reported in Maharashtra -- seven of them in Mumbai -- and none of the patients had a history of international travel, the state health department said on Tuesday.
'The Modi government is trying hard to see if it could be sold to a private airline.' 'But it appears there are no takers.' 'If no buyer comes forward by June, the government will close down Air India,' predicts A K Bhattacharya.
Airfares in Indian market are unsustainable, says a senior Boeing official.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
