India offers an excellent opportunity for investment in aviation sector: PM Modi
Prime Minister Narendra Modi on Monday (June 2, 2025) said India's fast-growing aviation sector offers an excellent investment opportunity for leading global companies.
Addressing the AGM of the International Air Transport Association (IATA) in New Delhi, Mr. Modi said the country aims to increase the size of the maintenance, repair and overhaul (MRO) segment to $4 billion by 2030.
Emphasising that India has an open and supportive policy ecosystem, Mr. Modi said all efforts are being made to make the country a global manufacturing hub.
🇮🇳 Honored to welcome Prime Minister @narendramodi as he addresses global #aviation leaders at the #IATAAGM in New Delhi.
🎥 Watch his live address here ⬇️
🔗 https://t.co/77DBonLBxN — IATA (@IATA) June 2, 2025
India is ready for big investments in the civil aviation sector, he noted.
"We want the world to see India not just as an aviation market but also as a value chain leader...Our direction is right, our speed is right...So, we are confident that we will continue to move forward rapidly," Mr. Modi said.
He further said India is investing in world-class airports and that the number of airports has increased to 162 from 74.
Today, India is the world's third-largest domestic aviation market.
The success of the UDAN scheme is a golden chapter in Indian civil aviation, the Prime Minister said.
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Mint
18 minutes ago
- Mint
PM Modi to flag off first train to Kashmir on Friday: Here's why it is India's historic rail milestone
The stage is all set for the first-ever train to Kashmir. Prime Minister Narendra Modi will finally inaugurate the first Vande Bharat Express train to Kashmir on 6 June from Jammu after the completion of the 272-km Udhampur-Srinagar-Baramulla rail link project. This will be Prime Minister Modi's first visit to Jammu and Kashmir after 'Operation Sindoor' – India's precision strikes on terror camps in Pakistan launched on 7 May in response to the 22 April Pahalgam terror attack that killed 26 people, mostly tourists. Modi will flag off the train services from the Shri at Vaishno Devi (SMVD) railway station in Katra, Jammu to Baramulla in north Kashmir. Modi will also flag off another train from Baramulla to Katra on the occasion. Trains have been running between Banihal and Baramulla in the Kashmir valley, and between Jammu, Udhampur and Katra in Jammu region. But the 111-km Katra-Banihal section was the most difficult to construct owing to the challenging terrain. Modi will also inaugurate the highest railway arch bridge over river Chenab and India's first cable-stayed Anji Khad bridge on the occasion. He is also expected to address a rally on the occasion. Earlier, the inauguration of the much-awaited train was scheduled for 19 April, however, it was postponed dur to bad weather. Three days later Pahalgam terror attack happened in Kashmir. The development will end over 70 years of wait for a direct train service to Kashmir linking the valley to rest of India first time throough a rail link. At present, trains are operational just between Sangaldan and Baramulla in the Valley and from Katra to across the country. The Udhampur-Srinagar-Baramulla Rail link (USBRL) Project was initially sanctioned in 1995 during the time of Prime Minister PV Narasimha Rao, at an estimated cost of ₹ 2,500 crore. While the ambitious project to connect Kashmir by train began in 1997, it was commissioned in bits and parts and faced multiple delays due to geographical challenges posed by the terrain. However, it gained momentum after then-Prime Minister Atal Bihari Vajpayee designated it as a national initiative in 2002. In 2009, Qazigund - Baramulla section in Kashmir was rendered operational, following which in 2013, the 18-km Banihal - Qazigund section, and in 2014 - the 24-km Udhampur - Katra section was started. In 2023, the section between Banihal and Sangaldan was started and now the connectivity between Sangaldan and Katra, which is believed to be the most difficult of all sections has been completed. The Banihal-Katra section contains 97 km of tunnels and 7 km of bridges. In December 2024, Ashwini Vaishnaw, the Union Minister of Railways, said that the final track construction of the Udhampur-Srinagar-Baramulla Rail Link was finished. "Historic milestone; final track work on the Udhampur-Srinagar-Baramulla Rail Link is complete. The ballastless track work for the 3.2 km-long Tunnel T-33, located at the foothills of the Shri Mata Vaishno Devi Shrine and connecting Katra to Reasi, was successfully completed today at 02:00 hrs," he wrote on X The famous Chenab Bridge, the world's tallest railway bridge standing 359 meters above mean sea level, is also part of the track and will enhance the picturesque route connecting Jammu and Srinagar. At an estimated cost of over ₹ 43,000 crore, the USBR Lproject involved laying out ballast less tracks over bridges and tunnels, spanning deep gorges, with 90 per cent of the route traversed over 943 bridges, and 36 main tunnels, including India's longest railway tunnel, T-50 stretching more than 12.7 km. On the Katra - Banihal section, the train will also traverse another engineering marvel, the Anji Khad bridge, which is India's first cable-stayed bridge. Supported by 96 cables, the 725-meter-long bridge stands 331 meters above mean sea level. For now, only one Kashmir-specific Vande Bharat train will ply on the Katra and Srinagar route to Baramulla. More trains will start plying on the route based on the public response, officials said. Earlier a direct train from Delhi to Srinagar was expected. But due to security and weather reasons, the passengers would have to get down at the Katra railway station and board another train to continue the journey forward to Kashmir. In February, Vaishnaw said that passengers who want to travel from Delhi to Srinagar can book one ticket and change the train at Katra railway. All passengers boarding the train to Srinagar from Delhi or vice versa or from any other part of the country would have to undergo thorough frisking. Besides, their luggage would be screened at the time of boarding. The luggage would then undergo fresh scanning at departure lounges once the passengers get down at the Katra station. Before they board another train, they would again be subjected to frisking by the security personnel. The trains will ply on the Kashmir route only during the daytime. No trains would ply during evening hours in the Valley. The Kashmir version of Vande Bharat is equipped with climate-specific adaptations to provide advance heating systems in sub-zero temperatures, driver's front lookout glass embedded with heating elements for defrosting, and to ensure clear visibility during harsh winters. The region's connectivity with the rest of the country would be improved with the completion of the USBRL Project and the launch of direct Vande Bharat trains between Kashmir and Delhi via Jammu. In addition to addressing logistical issues, this will boost economic expansion and encourage travel. -The total cost of Udhampur-Srinagar-Baramulla Rail link project is about ₹ 43,000 crore. -The seamless all-weather connectivity links Kashmir Valley to the rest of India for the first time through a rail link. -The connectivity will boost the local economy and trade by offering easier transport if local goods like apples, saffron and handicrafts to major Indian markets. Until now, these products had to be transported through Jammu and Kashmir Highway which gets affected by harsh weather during winters. -The rail link will also improve access to popular destinations like Gulmarg and Pahalgam. Tourism in Kashmir Valley was severly affeceted after Pahalgam terror attack. Historic milestone; final track work on the Udhampur-Srinagar-Baramulla Rail Link is complete. -Officials said that the project will also create employment opportunities in railway, tourism, and logistics sectors. -Above all, it simplifies travel to major cities for medical care and universities.
Indian Express
20 minutes ago
- Indian Express
Knowledge Nugget: G7 Group –– Historical evolution and importance for UPSC
Take a look at the essential concepts, terms, quotes, or phenomena every day and brush up your knowledge. Here's your knowledge nugget for today. (Relevance: International groupings are important for both your prelims and Mains examination. In Prelims, questions have been asked on BRICS and G20. The Group of Seven countries comprises powerful economies that have significant influence worldwide. As the G7 leaders' summit is scheduled later this month, it becomes important for you to develop a comprehensive understanding of this grouping. ) This year marks the 50th anniversary of the first Group of 7 (G7) meeting. Canada is hosting the 2025 G7 Leaders' Summit, which will be held in Kananaskis, Alberta, from June 15 to 17, 2025. Canada has hosted 6 summits to date: 1981, 1988, 1995, 2002, 2010, and 2018. With less than two weeks to go for the start of the G7 Summit, being hosted by Canada in Kananaskis in Alberta from June 15-17, India is still to receive an invitation to the gathering. If the invitation window closes, Delhi's absence at the summit will be the first break since 2019. Barring 2020 when the G7 huddle was cancelled by the US, the host country, Prime Minister Narendra Modi has attended every summit since 2019. 1. The Group of 7 (G7) is an informal group of seven countries that consists of the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom. Together these countries represent 40% of global GDP and 10% of the world's population. 2. It has no legal existence, permanent secretariat or official members. There is no binding impact on policy, and all decisions and commitments made at G7 meetings need to be ratified independently by the governing bodies of member states. 3. History: The G7 originated from a 1973 meeting of finance ministers and central bank governors in Paris, France. This meeting was convened in response to major economic challenges of at time – an oil crisis, rising inflation and collapse of the Bretton Woods system. US Treasury Secretary George Schultz decided that it would be beneficial for the large players on the world stage to coordinate with each other on macroeconomic initiatives. Bretton Woods System 4. Thus, the idea of a forum was born, where major industrialised democracies could coordinate economic policies to address common challenges. The first G7 summit was held in 1975 in Rambouillet, France, bringing together the leaders of France, Germany, the United Kingdom, the United States, Italy and Japan. Canada joined the next year. 5. Since 1977, representatives of the European Economic Community, now the European Union, have also participated. Following the collapse of the Soviet Union in 1991 and a subsequent thaw in relations between the East and West, Russia was also invited to join the group in 1998. Thereafter, the group was named the G8 until 2014, when Russia was expelled for its annexation of Crimea from Ukraine. 6. The presidency of G7 meetings is held by each of the seven countries in turn, each year. The country holding the presidency is responsible for organising and hosting the meeting. This year, Canada is holding the presidency. 7. The G7 summit provides a forum for member countries to discuss shared values and concerns. While it initially focused on international economic policy, in the 1980s, the G7 extended its mandate to include issues related to foreign policy and security as well. 8. Over the years, the G7 has evolved from an economic forum to a platform that aims to address a range of global challenges. Concluding with a communiqué outlining political commitments, the annual summit influences global governance, agenda-setting and decision-making processes. 9. Usually, G7 host countries invite some countries as guest countries or outreach partners. Canada has so far invited Ukraine and Australia. It has not released names of other guest countries. 1. G 15: According to the official website of the IMF, the Group of Fifteen (G15) was established at the Ninth Non-Aligned Summit Meeting in Belgrade, then Yugoslavia, in September 1989. It mainly comprises of countries from Latin America, Africa, and Asia with a common goal of enhanced growth and prosperity. It focuses on cooperation among developing countries in the areas of investment, trade, and technology. The membership of the G15 has since expanded to 17 countries, but the name has remained unchanged. 2. G20: The G20, or the Group of Twenty, is an informal grouping of 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, and the United States) and the European Union and African Union. These members represent around 85 per cent of the global GDP, over 75 per cent of global trade, and about two-thirds of the world population. As a forum for international economic cooperation, it plays an important role in shaping and strengthening global architecture and governance on all major international economic issues. 3. G24: The Group of Twenty-Four (G24), originally a chapter of the G77, was established in 1971. They call themselves Like Minded Developing Countries (LMDCs). They coordinate the positions of emerging markets and developing countries on international monetary and development finance issues and to ensure that their interests were adequately represented at international platforms. India is part of the LMDC grouping along with China, Indonesia, Malaysia, Iran, Bangladesh, Sri Lanka, the Philippines and others 4. BRICS: BRICS stands for Brazil, Russia, India, China, and South Africa, the original five members who were large, non-Western economies. In January this year, Indonesia officially joined the BRICS as a full member taking total membership to 10. Egypt, Ethiopia, Iran, and the United Arab Emirates are also part of the bloc. The organisation now represents almost half the world's population and almost one-quarter of the world's economy. Post read question (1) In which one of the following groups are all the four countries members of G20? (UPSC CSE 2020) (a) Argentina, Mexico, South Africa and Turkey (b) Australia, Canada, Malaysia and New Zealand (c) Brazil, Iran, Saudi Arabia and Vietnam (d) Indonesia, Japan, Singapore and South Korea (2) With reference to the G7, consider the following statements: 1. It is a formal grouping of advanced democracies that meets annually to coordinate global economic policy and address other transnational issues.. 2. It comprises of US, Germany, Canada, the UK, Japan, Italy, and France, along with the European Union. Which of the statements given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Subscribe to our UPSC newsletter. Stay updated with the latest UPSC articles by joining our Telegram channel – IndianExpress UPSC Hub, and follow us on Instagram and X. 🚨 Click Here to read the UPSC Essentials magazine for May 2025. Share your views and suggestions in the comment box or at Khushboo Kumari is a Deputy Copy Editor with The Indian Express. She has done her graduation and post-graduation in History from the University of Delhi. At The Indian Express, she writes for the UPSC section. She holds experience in UPSC-related content development. You can contact her via email: ... Read More
Economic Times
21 minutes ago
- Economic Times
How is India benefiting from supply chain diversification away from China? Morgan Stanley's Chetan Ahya explains
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads , Chief Asia Economist,says India is gaining advantage due to tariff differences with China. American companies are considering increased imports from India. Government policies are boosting manufacturing and exports. Electronics manufacturing is expanding beyond mobile phones. Infrastructure development will further strengthen India's manufacturing exports. Optimism in Indian equity markets aligns with positive economic fundamentals. The organization maintains a bullish outlook on think that the government capex has been the key anchor of the capex cycle and to the extent to which India has been embarking on this focus on manufacturing capex, the government's focus on infrastructure would be an important anchor to that private capex eventually improving as now, it is still the government capex and we had seen a bump down or a small slowdown period for government capex post general elections last year. But we have seen that in the last three-four months, there has been a meaningful pick up in government capex. In March, we saw that both central and state government capex growing at a very high pace and that has now taken the 12-month trailing centre plus state combined capital expenditure to close to the peaks that we had seen right before the general have seen this strength in government capex coming back again. As far as private capex is concerned, we were expecting that would have picked up a lot more by this time, but to the extent to which we have seen this trade tensions emerge from early this year that is going to affect the capex outlook not only in the region, but also in India, despite the fact that India has lower exposure to global goods reality is that it still has a meaningful exposure of 12% of GDP being its goods exports to GDP. We are expecting private capex to be going through a bit of an adjustment period in the environment of global trade tensions and then, over the next calendar year, that is, in 2026, we should see a pick up in private capex because by that time, the damage out of this global trade tensions would have been behind is benefiting on account of it. Right now, during a period where tariffs on China, even after having come down, are still at a very high run rate of 30% and from the 2018 period, you also have about 11% weighted average tariff on imports from China that the US has imposed. Cumulatively, we still have a 41% tariff rate for import from China for the US and that does give some sectors an advantage over China in terms of pricing and even sort of thinking about a bit more from a medium-term corporate sector in America is beginning to think about importing more from India. India is probably benefiting on account of that. Then, from a medium-term perspective, we have always argued that look, it is not just about taking away market share from China, but just getting rightful market share for India in the global goods exports and for that India's policies that were important and the government has been taking the right policies to boost that manufacturing sector have seen electronics manufacturing getting a leg up. We are going to see that expand into more and more products within the electronic segment apart from mobile phones and laptops. And at the same time, we think that from a medium-term perspective, this whole push towards infrastructure will really strengthen India's manufacturing exports. It is really a lot of the domestic policies that will be important from the long term apart from the short-term benefit that it may get on account of differential tariff rates between India and our regional and India strategists have been very constructive on India. So, we are aligned up as a house on being bullish on India.
