According to sources Prime Minister Narendra Modi's tax reforms will encourage more local airlines to service their aircraft within the country, a $704 million-a-year business that currently goes to Sri Lanka and Southeast Asia. Sources have stated that simpler rules for doing business and scrapping of import duties on equipment and machine parts are benefiting companies that maintain, repair and overhaul planes, Air Works India Engineering Pvt. Managing Director Vivek Gour said in an interview.
Meanwhile Air Works services Airbus SE and Boeing Co. single-aisle jets at an airport near Bengaluru. Gour said by government estimates, Indian carriers spend about Rs 4,500 crore ($704 million) annually on maintenance work at facilities in Sri Lanka, Singapore and Malaysia. With the new policy unveiled by PM Modi last year, some of that business could be lured back to India, benefiting firms like Air Works.
Gour further added that "Air Works, which also has a contract to paint some Airbus aircraft in Toulouse, France, is aiming to have revenue of Rs 1000 crore in three years, a 67% jump from its sales in the year ended March".
Kamal ready to announce his Political party's name by February Chennai sources have reported that Actor Kamal Hassan will announce his political party's name on February 21 at Tamilnadu's Ramanathapuram and begin a state wide tour the same day. Accordingly the tour will be held in phases. He will begin the journey from Ramanathapuram which is his hometown and later will visit people from the districts of Madurai, Dindigul and Sivagangai.
- Pattadar Passbooks to be issued in all TS from March 11
- 16 year girl subjected to prolonged sexual abuse by many men, including policemen
- India Today Opinion poll says Rajinikanth party gets 33 seats
- Donald Trump's Hair loss drug linked to depression and dysfunction
- Why Chandrababu Naidu shocked many officials by saying sorry?
- Inter caste Marriage? Even Parents don't have the Rights to question - Supreme Court issues new Order
- Chicago boy's kindness to homeless man!!
- China blocks centralized trading Cryptocurrencies!
- Budget 2018: IT Slab cut from 30 to 25%!
- Actor Suriya appreciated YS Jagan's Padayatra
- Trump pushed Xi to increase economic and political pressure on North Korea
- KT Rama Rao with his adviser been to Seoul
- Moshe invites youngest 26/11 survivor back to India
- Why Karni Sena damaged a school for playing Deepika Padukone's Padmaavat song?
- Do you know how to file a complaint from college when sexual harassment is made?