Indian Aviation News :
Indian Aviation sector is buzzing across the World. The Prime Minister of India Shri Narendra Modi is very keen on increasing the air connectivity across India. Air Connectivity will increase the growth of India. Prime Minister has launched the campain “Make in India” . There are so many opportunities for investing in Indian Aviation Sector.
The main provisions of budget 2014-2015 for aviation are as follows :
- Aircraft engines and parts thereof are eligible for duty exemption when imported for servicing, repair or maintenance of aircraft used for scheduled operations.
- The budget envisages the development of new airports in Tier I and Tier II cities.
- The Income Tax Act provides presumptive taxation under Section 44AE in respect of assesses who are engaged in the business of plying, hiring or leasing goods carriages. The bill proposes to increase the amount of presumptive income to INR 7,500 per vehicle for all types of goods carriage vehicles.
- Exemptions under the Income Tax Act for infrastructure development under section 80 IA.
- Basic customs duty exemption is available for parts and testing equipment used for the maintenance, repair and overhaul of aircraft.
- Budgetary support is provided to the AAI for the development of airport infrastructure in the north-eastern states of India.
Major opportunities in aviation sector :
- More than 500 aircraft are going to be added in Indian Aviation Market. This will comprise of around 150 commercial aircraft, 300 small business jets,training aircraft and 50 helicopters.
- With the increase in number of aircraft, there will be a surge in demand of MRO (Maintenance ,Repair and Overhaul) organization.
- Around 250 airports will be active in next few years.
- Guwahati is going to be the regional hub for Imphal,Agartal,Dibrugarh.
- Airport Authority of India is planning to spend $ 1.3 Billion in few years for modernisation and upgradation of airports.
- Indian airports are emulating the SEZ Aerotropolis model to enhance revenues, focus on revenues from retail, advertising and vehicle parking, security equipment and services.
The Foreign Companies who are already investing in Indian Aviation are as follows :
- Boeing International Corporation
- Rolls Royace
- GE Aviation
- Honeywell Aerospace
- Alcoa Fastening Systems Aerospace
- Airports Company South Africa Global
- Malaysia Airports Holdings Berhad
- Frankfurt Airport Services Worldwide
Other Major Reason for Investment in Indian aviation :CLICK