Business
‘Investing in India is profitable’: Putin heaps praises on PM Modi; says Russia ready to set up manufacturing operations in India
Russia willing to set up manufacturing operations in India? At the VTB Investment Forum in Moscow, the Russian president Vladimir Putin drew parallels between Russia’s import substitution programme and India’s “Make in India” initiative. He indicated Russia’s readiness to establish manufacturing units in India, recognising the Indian government’s emphasis on national priorities.
“Prime Minister Modi has a similar program called Make in India. We are also ready to place our manufacturing site in India. The Prime Minister of India and the Government of India have been creating stable conditions and this is because the Indian leadership has been pursuing India comes first policy and we believe that investments in India are profitable,” the Russian President said according to a Ministry of Commerce & Industry release.
During the 15th VTB Russia Calling Investment Forum, Putin commended PM Narendra Modi’s national-centric approach and the “Make in India” programme. He recognised India’s successful creation of a stable environment conducive to growth, noting how these policies have supported India’s advancement.
Also Read | India’s Apple iPhone production scales new highs, but share of revenue far behind China – here’s why
Putin highlighted how the “Make in India” initiative has strengthened India’s global economic position by enhancing manufacturing and drawing foreign investments. His observations emphasised India’s economic achievements under PM Modi’s administration. He particularly noted the government’s success in establishing favourable conditions for small and medium-sized enterprises.
According to a Reuters report, Russian oil producer Rosneft invested $20 billion in India recently, the Indian government quoted Putin as saying.
The Russian President advocated for enhanced collaboration amongst BRICS nations to bolster SME development and suggested member states identify primary areas for partnership at the upcoming Brazilian summit. He discussed Russia’s developing investment platform with BRICS, suggesting its potential advantages for partner nations and its role in supporting economies and providing financial resources to Global South and East countries.
“I urge my BRICS colleagues to evaluate the current situation in key areas of cooperation, and we will certainly bring this to the attention of our Brazilian counterparts, who will be leading BRICS next year,” he added.
Business
Indian Railways plans centrally heated sleeper train, special Vande Bharat chair car for Kashmir – check features
Indian Railways eyes two special trains for Jammu & Kashmir! Indian Railways plans to introduce two new train services to enhance Kashmir connectivity in the coming month.
A centrally heated sleeper train will operate between New Delhi and Srinagar, offering a 13-hour journey through snow-covered mountains and across the 359-m-high Chenab Bridge, which is the world’s highest railway arch bridge. The train will provide premium comfort but will not include second-class sleeper coaches, sources told ET.
Previously it was being speculated that the Vande Bharat sleeper would debut on the Kashmir route, but that doesn’t appear to be the case now.
Vande Bharat for Katra-Baramulla Route in Jammu & Kashmir
- For the Katra-Baramulla route, an eight-coach Vande Bharat train with chair car seating will be introduced, a senior railway official told the financial daily.
- The
Vande Bharat Express for Jammu & Kashmir also incorporates specialised features including silicon heating pads for water tanks to prevent freezing, and toilets with warm air circulation through specially designed ducts. - In a first for Indian Railways, the loco pilots’ front glass contains embedded heating elements to prevent frost formation in sub-zero temperatures.
- The service will reduce the 246-km Katra-Baramulla journey time to three-and-a-half hours, significantly faster than the current 10-hour bus journey. Baramulla railway station lies 57 km beyond Srinagar.
Jammu & Kashmir Train Connectivity
Katra, which serves as the entry point to the Mata Vaishno Devi shrine and attracts numerous pilgrims, currently has a 16-coach Vande Bharat Express connection to New Delhi operating six days weekly.
The railway official said, “Once the Katra-Baramulla Vande Bharat becomes operational, likely by late next month, passengers will be able to seamlessly journey from New Delhi to Katra in our existing Vande Bharat and then transfer to the new service to reach Srinagar or Baramulla.”
Business
Adani spreads wings in aviation, to acquire leading MRO Air Works
NEW DELHI: The Adani Group, that operates airports in seven cities including Mumbai and is building a greenfield one at Navi Mumbai, is expanding its presence in the aviation space. It is acquiring India’s biggest private sector MRI (maintenance, repair & overhaul) player Air Works for an enterprise value of Rs 400 crore.
Adani Defence Systems & Technologies Ltd (ADSTL) has signed a SPA to acquire 85.8% shareholding in Air Works, which does line maintenance, heavy checks, interior refurbishment, painting, redelivery checks, avionics and asset management services for its Indian and global customers.
Air Works does base maintenance for narrowbody, turboprop and rotary aircraft at its facilities in Hosur, Mumbai and Kochi and has regulatory approvals from civil aviation authorities of over 20 countries. It also handles defence MRO.
Adani Airports director Jeet Adani said: “The Indian aviation industry stands at a transformative juncture, now the third largest globally and on track to induct over 1,500 aircraft in the coming years. This growth aligns seamlessly with Govt’s vision to connect every corner of our nation, creating unprecedented opportunities in aviation services. For us, creating a presence in the MRO sector is more than just a strategic step — it’s a commitment to building an integrated aviation services ecosystem that strengthens the backbone of India’s aviation infrastructure. Together, we are excited to play a pivotal role in shaping the future of India’s skies,” said
Adani Defence & Aerospace CEO Ashish Rajvanshi said: “This acquisition represents a pivotal step in Adani Defence & Aerospace’s mission to strengthen India’s MRO capabilities. Our vision is to deliver a full-spectrum MRO offering — spanning line, base, component, and engine maintenance — to meet the needs of both commercial and defence aviation sectors. In a time when
aatmanirbharta
in defence is a national imperative, we stand fully committed to scaling domestic capabilities to serve both our armed forces and the broader aviation sector.”
-
Sports1 day ago
Jhye Richardson surprised with Boxing Day Test call-up
-
Business2 days ago
Google proposes fix to solve search monopoly
-
Entertainment2 days ago
Diljit Dosanjh REACTS to AP Dhillon’s statement that he has blocked him, the latter drops cryptic note: ‘Everyone will hate on me’ – PIC inside | Hindi Movie News
-
Business2 days ago
Britannica didn’t just survive. It’s an AI company now
-
Sports1 day ago
India Vs Australia: ‘Make Starc bowl the second and third spells’: Pujara’s advice to India batters ahead of Boxing Day Test | Cricket News
-
Business1 day ago
IPO boom: Record Rs 1.6 lakh crore raised in 2024; new year to see greater heights
-
Business1 day ago
GST panel puts off call on lower rates for insurance