Search Result for : Aircraft

The Dollar Business Bureau India and Russia have moved to the second stage of discussions to sign a contract for the joint development of the Fifth-Generation Fighter Aircraft (FGFA) and both the sides will ink a contract very soon, said a top Russian official. Russian state corporation Rostec’s CEO Sergei Chemezov said that all the decisions for jointly developing the FGFA will be finished in the ‘nearest future’.  In 2007, India and Russia had signed an inter-governmental agreement for the multi billion dollar FGFA project. “As for the 5th generation (fighter aircraft) - the work is underway. Stage one is over. Now we are discussing the second stage. And I think that in the nearest future, all decisions will be made and the contract ...

By Sheela Mamidenna The youngest of the German cars in India, BMW, is fighting back to reclaim its leadership position in India. With its new Indian President and the company’s ‘power to lead’ strategy, BMW India recently launched the newest version of its luxury sedan, the 5 series, on June 29. Locally produced at the BMW Plant Chennai, the all-new BMW 5 Series will be available in diesel and petrol variants at all BMW dealerships across India from 1 July 2017 onwards. With the official implementation of GST on July 1, BMW is hopeful that it will make a strong comeback in India in a segment that accounts for less than 2% in the passenger vehicle market. With BMW, MINI and Motorrad, the BMW ...

The Dollar Business Bureau The US President urged the Indian Prime Minister to relax the trade barriers in order to reduce their trade deficit. Speaking to the media at the historic Rose Gardens in the White House both the leaders appeared to be at ease with one another and read out statements that portrayed the importance of a  strong US-India relationship. Watched by the world media, both the leaders stressed the strong commitment being made towards bilateral relations.  Prime Minister Modi said, “I deeply appreciate your strong commitment to the enhancement of our bilateral relations. I am sure that under your leadership a mutually beneficial strategic partnership will gain new strength, new positivity, and will reach new heights."  President Trump during his address made it ...

The Dollar Business Bureau  India and Russia have agreed to set up JVs to build aircrafts and automobiles in order to boost the lagging trade and economic ties between the two countries. The Russian President’s positive announcement after the summit concluded at St.Petersburg, summed up the positive developments and growth trajectory that PM Modi’s talks could have had. Putin said, "We both have a stake in consolidating this positive trend. Our talks are always held in a warm and friendly atmosphere, and are always substantive and productive. This time was no exception." Putin said the agreements made in the St Petersburg Declaration outlines steps to further deepen bilateral cooperation in the political, economic and cultural spheres. "Encouraging the growth ...

PTI China's first large homemade passenger jet, touted as a competitor to Boeing and Airbus, made its maiden flight today, heralding the Communist giant's entry into the highly-competitive global aviation sector. The 158-seater C919 aircraft took to the skies from Shanghai Pudong International Airport in eastern China and made the country the fourth jumbo jet producer after the US, Europe and Russia, the state media reported. The 80-minute flight was greeted with applause by more than 1,000 spectators on the tarmac, including Chinese Vice Premier Ma Kai and Shanghai Party chief Han Zheng. The twin-engine plane departed with five crew members on board but without any passengers. "The maiden flight was exciting," said Wu Guanghui, C919's chief ...

The Dollar Business Bureau The Central Board of Excise and Customs has amended the Bill of Entry (Electronic Integrated Declaration) Regulations and Bill of Entry (Forms) Regulations – a part of the Customs Act, 1962 - to prescribe late charges for delayed filing. The amendments have been made to prescribe a late charge for delayed filing of Bill of Entry. After the amendment, the importer will be required to present the bill of entry before the end of the next day after the aircraft or vessel or vehicle carrying the goods has arrived at a customs station at which such goods are to be cleared for home consumption or for warehousing. The free period for filing a bill of entry is till the ...

The Dollar Business Bureau  Optimistic about the growth prospects, low-cost airline SpiceJet said on Friday that it expects to conclude negotiations and put orders for new aircrafts in the current fiscal year ending in March.  The budget carrier, which has been in profit for seven quarters in a row after battling financial instability, is expected to be looking for about 100 aircrafts.  “For quite some time, the discussions are going on. We are expecting to complete the negotiations and would place an order this fiscal,” said a SpiceJet spokesperson in a statement.  However, he did not disclose the details about the type or number of aircrafts that are expected to be ordered.  Presently, the airline has a fleet of 47 aircrafts, which consists of 18 Bombardier Q400s ...

PTI The US is likely to make a positive decision on India's request for state-of-the art unarmed Guardian drones for maritime surveillance, especially in the Indian Ocean. The move comes after India was designated a major defence partner of the US in June. Within weeks of that designation, after Prime Minister Narendra Modi met US President Barack Obama, at the White House in early June, the Indian Navy had sent an official letter of request (LoR) in February to Department of Defense towards purchase of 22 high-tech multi-mission Predator Guardian UAVs. This was the first major request of arms sale purchase by India after Obama designated New Delhi as a major Strategic Defence partner. The US government has not made a ...