Ø PM Modi signalled that India, despite its exports shrinking in January
for the 14th consecutive month, will never undervalue its
exchange rate to boost trade;
Ø The Indian government wants to end the military's dependence on
imports that have made India the largest arms buyer in the world. However,
there is no clarity on indigenous manufacture, procedures and allocation;
Ø India is one of the world's fastest growing aviation markets. Air travel is
to be made more affordable and accessible to the masses,
rather than the luxury travel it is today;
Ø Civil aviation rules detailing regional connectivity are expected next month.
Many of the country's 350 disused airstrips are to be developed and
activated as "no frills" airports. But, as always in India,
the key lies in implementation.;
Ø The above initiative to develop regional connectivity, and the fact that
second and third tier cities have more of an "airstrip" rather than a proper
airport like Bombay, Delhi or Bangalore, means that the
market for smaller planes will open up even more;
Ø Underpinned by economic growth of 7-8% and rising disposable incomes
India's fuel demand has grown by about 10% in the current fiscal year
to 31 March 2016. It is helping stabilise fuel prices globally. India has
overtaken Japan as the world's third-largest oil consumer.
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