Month: February 2020
जेवर में बनेगा देश का सबसे बड़ा हवाई जहाजों की मरम्मत करने का वर्कशॉप, होगी आर्थिक बचत
हवाई जहाजों के इंजन की मरम्मत का काम ज़्यादातर सिंगापुर, श्रीलंका और दूसरे यूरोपीय देशों में कराया जाता है. लेकिन अब सरकार के इस कदम से एयर एवियशन (Air Aviation) कंपनियों को बड़ी राहत मिलेगी और आर्थिक बचत भी होगी.
http://hindi.news18.com/amp/news/business/yamuna-expressway-industrial-development-authority-set-up-a-civil-aircraft-maintenance-repair-and-overhaul-facility-near-noida-international-airport-dlnh-3444733.html
Noida International Airport has been conceived as the biggest civil airport project in Asia and among the top in the world. MRO complex is a preconceived plan that was incorporated in the techno feasibility study by PWC, PriceWaterHouseCoopers and is the basis of the for global bidding of this PPP model. http://environmentclearance.nic.in/writereaddata/online/EC/170620191KAW3B3CPFR.pdf
Now that Zurich AG is the selected PPP partner they are already activating this critical component see news;
Zurich AG planning to get Big Slice of $42 billion Aircraft Maintenance, Repair & Overhaul via AMRO Business to Jewar Airport, by developing AMRO complex, the first in North India, this will add to the commerce and well paid jobs on Yamuna E-Way and residents of our society will benifit most due to proximity.
As per plan it can be assumed that if Jewar gets even 20% of MRO business as it stands today it will be about 1500 cr and create 6000 jobs. assuming a multipleir factor of 4 on 1500 cr.
According to Airbus, the Indian Aircraft Service Market vuz AMRO to Grow to $6.3billion by 2025. TOI Reports
About MRO WORLD WIDE BUSINESS
Worldwide AMRO business is approx about $110 billion.https://www.statista.com/statistics/278372/revenue-of-commercial-airlines-worldwide/
India’s 2020 AMRO business is approx about $1.5 billion, out of which 90% is done out of India.
As per Boeing estimates this is to grow about $45 Billion by year 2040, meaning annual Indian Growth would be about $2 Billion.
Extract from The 2nd Aerospace Defence MRO South-Asia Summit 2019 held in DELHI in January 2020
According to Boeing sources, Indian economy is projected to grow by nearly 350 per cent over the next two decades to become the third largest economy in the world. India’s unprecedented domestic passenger traffic and rapidly expanding low-cost carriers (LCCs) will drive the need for 2,300 new jets which will be valued at $320billion over the next 20 years.
Airlines end up spending 13 to 15% of their cost for MRO, making it the second highest cost item after fuel. In India about 90% MRO work is done outside due to very few facilities here, however the developing MRO industry in India is estimated to grow at a CAGR of 10% by 2020.
Please check more information on
https://www.aviation-defence-universe.com/mro-association-of-india-announces-aero-mro-india-ad-2019/
https://en.wikipedia.org/wiki/Indian_MRO_Industry
As per National Civil Aviation Policy 2016 Viz NCAP, the Indian Goverment wants to reverse this and would allow foreign Airlines to send their Aircrafts to India for MRO. The Government has already granted Industry status to MRO.
http://employmentnews.gov.in/newemp/MoreContentNew.aspx?n=Editorial&k=66
The Government has proposed to promote the growth of Indian aviation sector in a significant manner as the development of this sector has a multiplier effect on the economy. As per a International Civil Aviation Organisation (ICAO) study, the output multiplier and employment multiplier are 3.25 and 6.10 respectively. The aim of the Government is to provide an ecosystem for the harmonised growth of various aviation subsectors, i.e Airlines, Airports, Cargo, Maintenance Repairs and Overhaul services (MRO), General Aviation, Aerospace Manufacturing, Skill Development, etc.
https://www.civilaviation.gov.in/sites/default/files/Final_NCAP_2016_15-06-2016-2_1.pdf
https://en.wikipedia.org/wiki/Indian_MRO_Industry
Affordable housing
For realisation of the goal of ‘Housing for All’ and affordable housing, in the last budget FM had announced an additional deduction of up to one lakh fifty thousand rupees for interest paid on loans taken for purchase of an affordable house. The deduction was allowed on housing loans sanctioned on or before 31st March, 2020. In order to ensure that more persons avail this benefit and to further incentivise the affordable housing, Sitharaman proposed to extend the date of loan sanction for availing this additional deduction by one more year.
Further, in order to boost the supply of affordable houses in the country, a tax holiday is provided on the profits earned by developers of affordable housing project approved by 31st March, 2020. In order to promote the affordable housing projects, the finance minister propose to extend the date of approval of affordable housing projects for availing this tax holiday by one more year.
Concession to real estate transactions
Currently, while taxing income from capital gains, business profits and other sources in respect of transactions in real estate, if the consideration value is less than circle rate by more than 5 percent, the difference is counted as income both in the hands of the purchaser and seller. In order to minimize hardship in real estate transaction and provide relief to the sector, FM proposed to increase the limit of 5% to 10%.
