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The Dollar Business Bureau India has plans to have an open sky agreement with the nations, which are within the radius of 5,000 km, said Oman Air Chief Executive Officer (CEO) Paul Gregorowitsch on Thursday. An open sky agreement refers to an agreement between two nations to allow each other airlines to have an unlimited number of flights, seats, etc between the two countries. “If the current policy of the Indian Government is to also consider an open sky (agreement) for those destinations which are within 5,000 kilometres materialises, in the next two years, then it will automatically (provide us) a more level environment,” said Gregorowitsch, while briefing a media round table in New Delhi. He was confident that the measure could be put ...

The Dollar Business Bureau Prime Minister Narendra Modi left for Kazakhstan on Thursday to attend the two-day summit of Shanghai Cooperation Organisation (SCO). During the summit to be held on June 8-9 in Astana, the capital city of Kazakhstan, India is set to become a member of the SCO. The Prime Minister will also attend the inauguration of the Astana Expo 2017 on Friday which is based on the theme of ‘Future Energy’ this year. “At this meeting, on completion of the process, India will become a full Member of the SCO upon which SCO will represent over 40% of humanity and nearly 20% of global GDP,” the PM wrote. “We launched the process of full membership in Tashkent meeting of the SCO last year. I look forward to deepening India’s ...

The Dollar Business Bureau Jayant Sinha, the Union minister for Civil Aviation proposed the Ude Desh ka Aam Nagrik (UDAN) scheme that would connect the smaller towns across the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region. Adding that such a move will be similar on the lines of the Open Sky Agreement that India enjoys with the SAARC countries, he said, "We can sign an MoU with different countries to be able to provide support for an UDAN-type scheme across the BIMSTEC community. Of course, we will have to couple that with something like an Open Sky Agreement so that airlines can fly freely," Sinha told reporters. Under the Open Sky Agreement (OSA), signed in 2016, New ...

The Dollar Business Bureau Come Friday, and India will launch a Satellite from the Sriharikota base. The South Asian Satellite is intended to be used for the South Asian Association of Regional Cooperation (SAARC). It will be launched on 5th May, the Prime Minister informed listeners during his Mann ki Baat Radio address on Sunday and the facilities it would offer to the region. Modi referred to the satellite as one in line with the inclusive development-spirit of the ‘Sabka Saath, Sabka Vikas’ concept. He was quoted in the official PMO website as saying, “It (Sabka Saath, Sabka Vikas) is not limited to the confines of India. It applies to the global context too. And very specially to our neighbouring countries. May our neighbouring countries ...

The Dollar Business Bureau David Rasquinha, MD, Export Import Bank of India, revealed that the premier export-promoting body aims to raise $2.5 billion – $3 billion from overseas markets in the current fiscal year. In 2016-17, EXIM had successfully raised an amount of over $2 million from foreign markets. Even if the deployment of these funds doesn't take place right away, it helps secure liquidity and enhances long term investment opportunities up to 20 years, the MD said. EXIM promotes Indian investment in Africa in the sectors of power, roads, railways, renewable energy, and agriculture. Of all its annual funding, about 50% goes towards countries in Africa. The export promotion agency supports long-term projects predominantly in SAARC, Africa, and the far east region. It sees potential for financial lending in the neighbouring countries of ...

The Dollar Business Bureau Finance Minister Arun Jaitley will on Thursday inaugurate a seminar on long-term infrastructure financing and best-practices for public-private-partnership projects in the BRICS group. India will organise the next BRICS (Brazil, Russia, India, China and South Africa) summit in Goa next month. The finance minister will inaugurate the seminar on ‘Best Practices in PPPs and Long-term Infrastructure Financing of BRICS Countries’ on September 22, the Finance Ministry statement said in a statement. The seminar will focus on three technical sessions: innovative investment vehicles for long term infrastructure investment; regulatory issues and financing of infrastructure; and PPP Project Delivery and Post Award Contract management. “Outcomes of this seminar could go a long way in better understanding and optimally utilizing the Best Practices in ...

The Dollar Business Bureau French automobile manufacturer, Renault on Monday announced the commencement of exports of Kwid - its entry-level car and Duster - the popular SUV, to Nepal from its operations in India. Renault marked its entry into the market of Nepal by collaborating with Vishal Group - one of the biggest business groups. This is in line with the company’s strategy to enhance its presence in the region of SAARC, said the company in a statement. Sumit Sawhney, Renault India Operations Country CEO and MD said, “Nepal is an important market for Renault's growth in South Asia and we have carved out a clear-cut strategy to grow our presence in this important market with an ambition to be among the top players.”He further said that Renault is confident that Duster and ...

PTI  Renault India, which started its Indian operations independently four years ago, is aiming to cross the one lakh sales mark this calendar year. "So far from January to August 2016, we have sold 87,000 cars out of which 65,000 units are Kwid. We hope that full-year sales will cross 1 lakh," said Sumit Sawhney, country CEO and MD of Renault India. Last year, the company sold only 50,000 cars, he said. On the company's strategy for the Indian market, he said "Every year, we will be launching a brand new car from next year. We are now in the portfolio development mode." Kwid, the mini car from the Renault stable, was among the top 10 best-selling cars in India at ...