Aircraft Import Becomes Easy

The ministry has decided to delegate the power to grant “initial No Objection Certificate, an in-principle approval, for import or acquisition of aircraft to the DGCA,” official release said on Saturday. The delegation of power is being done in order to simplify procedures as compliance of various civil aviation requirements are regulated by the DGCA, it added.

To implement the changes with regard to approval framework for aircraft import, the Director General of Foreign Trade (DGFT) and RBI have also amended their existing notification and master circular, respectively.

While the DGFT made the amendments on October 9, RBI effected the changes on November 26.

Helicopter Joyride in Delhi

“DGCA has now been requested to make necessary amendment in the related CAR/Rules in accordance with it,” the release said.

The easing of approval requirements also comes at a time when the ministry is working on a new aviation policy that seeks to provide various incentives for the sector.

Earlier this week, RBI said banks can allow advance remittances for aircraft imports once the company has approval from DGCA.

Previously, advance remittance was allowed by banks only when the importing entity had requisite approvals from Civil Aviation Ministry, Directorate General of Civil Aviation (DGCA) and other agencies.“… banks may, while allowing advance remittance without bank guarantee or an unconditional, irrevocable standby letter of credit up to USD 50 million, ensure that only the requisite approval of DGCA for import of aircrafts/helicopters,” have been obtained by the company, RBI had said.

Atom Aviation does Aircraft Import in India.