Archive For The “Business” Category

Lockheed, Tata in JV to make F-16 jet wings

In a major boost to the ‘Make in India’ initiative, American security and aerospace giant Lockheed Martin announced that the wings of its F-16 fighter jets will be produced in India. Maryland-based Lockheed Martin has entered into an agreement with Tata Advanced Systems Limited (TASL) for the project. Lockheed officials insisted that the planned F-16 […]

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Pvt sector to get Rs 9K cr for space launch vehicles

A bonanza awaits the private sector in space vehicle manufacturing. Indian Space Research Organisation (ISRO) chairman Dr K Sivan said the private industry will get over Rs 9,000 crore out of the Rs 10,400 crore announced by Prime Minister Mr Narendra Modi for the manufacture of 40 launch vehicles. At the launch of the sixth […]

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New Kannur airport may boost tourism in Kodagu, Mysuru

Tourism industry in Mysuru and Kodagu is hoping for a surge in tourist footfall — all thanks to Kannur International Airport, a greenfield airport in Kerala, which will be inaugurated for flight operations shortly. Stakeholders here argue that the airport will open a new gateway for tourism development as Kodagu is closer to Kannur and eventually […]

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Govt. to seek new bids for Pawan Hans

The government will soon invite fresh bids for 100% stake sale in Pawan Hans by issuing an addendum to the disinvestment document as ONGC is ready to sell its entire stake in the company, an official said. Helicopter services provider Pawan Hans is a joint venture between the government, which holds 51% stake, and state-owned […]

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Godrej, U.K.’s GKN Aerospace sign pact for helicopter tanks

Godrej Aerospace, a unit of Godrej & Boyce Mfg. Co. Ltd., has signed an agreement with U.K.-based GKN Aerospace, a premier aerospace supplier, for the manufacture of specialised helicopter fuel tanks. Godrej Aerospace would set up a manufacturing facility for the production of these fuel tanks, the company said in a statement. ‘Aiming to be […]

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Saras small passenger aircraft will be in commercial use in 3 years: Harsh Vardhan

The ambitious Saras project to manufacture small passenger aircraft, which was in cold storage, has been revived and in the next three years its commercial use will start under the UDAN scheme, Union minister Mr Harsh Vardhan said today.  Commercial modification and implementation process were underway, he told reporters after inaugurating the UAV design and […]

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Kempegowda International 2nd Fastest Growing Airport In The World

The Kempegowda International Airport (KIA) has emerged as the second fastest growing airport in the world in the first half of 2018 in terms of actual growth in the number of passengers. It has recorded 1,58,50,352 flyers during the six-month period.  Only Tokyo’s Haneda International has bettered KIA’s growth. The report was published by RoutesOnline, a company focussing on […]

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Centre moots overseas UDAN

State governments will be able to encourage tourism on preferred international air routes by offering subsidy to domestic airlines for a period of three years. The Ministry of Civil Aviation has prepared a draft scheme document for “UDAN International” and invited comments from stakeholders till September 4. The scheme is designed for State governments that […]

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Jet Airways to consider cost-cutting, turnaround plan

Directors of Jet Airways (India) Ltd will consider a plan to turnaround the financially-troubled carrier at a meeting on 27 August. The airline’s board will also discuss ways to cut costs at the meeting, which will consider the deferred financial results for the June quarter, Jet Airways said in a regulatory filing. The announcement will help to […]

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Defence Ministry’s approval for Rs 46Kcr defence procurement will boost ‘Make in India’ initiative but what MSMEs will get is not clear: Expert

The Defence Acquisition Council (DAC), chaired by Defence Minister Ms Nirmala Sitharaman approved procurement worth Rs 46,000 crore for the three armed forces to boost Prime Minister Mr Modi ‘Make in India’ initiative but what will be there for MSMEs is not clear, said an Expert. Speaking to KNN India, Mr Debashis Bandhopadhyay, an Expert […]

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