- Friday, February 28, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Wednesday, June 21, 2023:
As Indian prime minister Narendra Modi and US president Joe Biden are expected to unveil a mega defence deal during their upcoming meeting in Washington DC, Baba Kalyani, chairman and managing director of Bharat Forge has told CNBC-TV18 in an interview that there is a there is a huge opportunity for small, medium & large sectors that are taking part in the prgramme once the deal is concluded between the US’s GE and India’s Hindustan Aeronautics Limited (HAL). After the Biden administration gave the go-ahead to GE to transfer jet engine manufacturing technology to India, the two sides made an in-principle agreement on the deal.
Akasa Air announced its acquisition of four additional Boeing 737 Max planes, expanding their order book of 72 aircraft. They also revealed plans to make a significant three-digit aircraft order by the end of 2023. The announcement was made at the Paris Air Show, where the airline emphasised its goal to commence international operations by the end of 2023. With the upcoming aircraft additions, Akasa Air aims to strengthen its expansion strategy and take advantage of the Boeing 737-8’s capabilities for both domestic and international routes. The airline has achieved a remarkable milestone by becoming the first to reach a fleet size of 19 aircraft within a year of operation. They anticipate having 72 planes by March 2027 and are in discussions with the government regarding potential destinations in Southeast Asia, the Middle East, Nepal, Bangladesh, and Sri Lanka.
Indian carrier SpiceJet on Wednesday announced that it has reached a settlement agreement with Nordic Aviation Capital (NAC), a significant lessor for the airline’s Q400 aircraft, Moneycontrol reported. The agreement resolves all previous liabilities related to the Q400s leased by NAC to SpiceJet, as stated in the release. Currently, the airline operates five Q400 aircraft from NAC in its fleet. Additionally, SpiceJet revealed plans to induct three more Q400 aircraft into its fleet, which were previously repossessed by NAC. This addition of three planes marks a significant fleet restoration for the budget airline.
Terrorism divides but tourism unites and helps in creating a harmonious society, Indian prime minister Narendra Modi said on Wednesday. A video message from Modi was played at the inaugural session of the G20 tourism ministerial meeting in Panaji in the western state of Goa. The prime minister is currently on a state visit to the US. “It is said that terrorism divides, but tourism unites. Tourism has the potential to unite people from all walks of life thereby creating a harmonious society,” he said in the message. Modi expressed confidence that the deliberations and the ‘Goa Roadmap’ would “multiply the collective efforts to realise tourism’s transformative power”.
Having made its presence felt in the agro-products segment in big Indian cities, Chile is now keen to tap the markets in smaller cities for its premium produce of wines, walnuts and other dry fruits. The Latin American country is also keen to let its customers inform about the country of origin of the products and is set to launch a brand-building campaign through a masterclass on Chilean wines and other events. “There is a lot of interest here. There is a big opportunity here, we are going to increase that. We are not only talking of big cities, but also looking at Tier-2, Tier-3 cities,” Ignacio Fernandez Ruiz, General Director of ProChile, an arm of the Foreign Ministry that deals in the promotion of exports, told PTI.
(With agency inputs)
