* Rising working group and widening middle-class demography is expected to boost demand.
* Country will become the third-largest aviation market in terms of passengers by 2024.
* By 2028, the MRO industry is likely to grow over US$ 2.4 billion from US$ 800 million in 2018.
* Land allotment for entities setting up MRO facilities in India has been revised to a period of 30 years in September 2021, from the current 3-5 years as the government aims to make India a ‘Global MRO Hub.
* In June 2023, the US committed to creating a global hub for MRO for high-end drones in India.
* Foreign investment up to 49% is allowed under the automatic route.
* Under the Union Budget 2021-22, the government lowered the customs duty from 2.5% to 0% on components or parts, including engines, for manufacturing of aircraft by public sector units of the Ministry of Defence.
* Investment up to Rs. 420-450 billion (US$ 5.99-6.41 billion) was expected in India’s airport infrastructure between FY18-2FY3#.
* Growing private sector participation through the Public-Private Partnership (PPP).
* In May 2023, It was informed that there is a plan to invest Rs. 1 lakh crore (US$ 12 billion) in airports in the coming days.
Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nuremberg, ...
Ayurveda, an ancient health system originating from India, has a longstanding history. It revolves around using plants and herbs to maintain health an...
India's digital ecosystem has undergone an enormous change in recent years. The progressive integration of government services into digital platfo...
Kala Cotton is indigenous to India and one of the few “Old World” varieties that is still being cultivated on a large scale in India. Farm...
In recent years, the pursuit of net-zero emissions has garnered substantial...
Role of Third-Party Logistics Providers in Indian D2C From the buzzing str...
The electronic sector in India has emerged as a key driver of the country...