Cabinet clears signing pact for civil aviation co-operation among BRICS nations

By: |
New Delhi | Updated: July 26, 2018 2:59:00 PM

The Cabinet today approved signing of a pact with other BRICS nations for establishing an institutional framework for co-operation in the civil aviation sector.

Approval has been given for signing of a Memorandum of Understanding among the five nations on regional aviation partnership, an official release said. (Reuters)

The Cabinet today approved signing of a pact with other BRICS nations for establishing an institutional framework for co-operation in the civil aviation sector.

Approval has been given for signing of a Memorandum of Understanding among the five nations on regional aviation partnership, an official release said.

“The MoU signifies an important landmark in the civil aviation relations between India and other BRICS member states and has the potential to spur greater trade, investment, tourism and cultural exchanges amongst the BRICS nations,” it said.

Brazil, Russia, India, China and South Africa make up the BRICS group.

The countries would co-operate in the areas of public policies and best practices in regional services, regional airports, airport infrastructure management and air navigation services.

Technical cooperation between regulatory agencies, innovation, environment sustainability, initiatives, qualification and training, would also be among the areas where the five countries would look to work together, according to the release.

India is one of the fastest growing aviation markets in the world and has been consistently registering double-digit growth for more than three years.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Next Stories
1PSB bailout! 5 get Rs 11,000 crore; capital infusion in more banks by September
2Consumers facing problems, many complaints over supply of defective, damaged goods by e-commerce firms: Centre
3Maharashtra’s Vidarbha region to generate large number of jobs; here are key details