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New Delhi, Jan 21 () Domestic telecom gear maker Tejas Networks on Tuesday posted a consolidated loss of Rs 112.06 crore in the third quarter ended December 31, mainly on account of dip in sales.
 The company had posted a profit of Rs 32.84 crore in the corresponding period a year ago.
 Its total income from sales reduced to less than half at Rs 92.85 crore during the reported quarter, from Rs 193.63 crore in the corresponding quarter of 2018-19.
 Shares of Tejas Networks on Tuesday closed at Rs 90.2 apiece on the BSE, up 1.23 per cent compared to the previous close. PRS HRS

Tejas Networks posts loss of Rs 112 cr in Dec quarter

NEW DELHI: When the <keyword id="6376012" type="COMPANY" weightage="100" keywordseo="Tejas">Tejas</keyword> light combat aircraft tears into the sky over Bangalore on Friday, its sonic boom will finally herald a major milestone in the long, tortuous developmental saga of the homegrown supersonic fighter. 
 Having clocked almost 2,420 flight tests since its prototype first flew in January 2011, the lightweight multirole Tejas fighter will finally zoom past the initial operational clearance (<keyword id="6354733" type="ORGANIZATION" weightage="40" keywordseo="IOC">IOC</keyword>) mark on Friday. For long wary of <keyword id="508910" type="ENTERTAINMENT" weightage="40" keywordseo="The-Fighter">the fighter</keyword> being prematurely thrust down its throat, even the IAF will clap this time. 
 "This Tejas Mark-I is much better than a MiG-21 'Bison' on several counts, including weapon-carrying capability and range. But the fighter's full capabilities will emerge only in the Tejas Mark-II version, with a more powerful engine, radar and weapons, which is slated to be ready by December 2018," said a top <keyword id="194542" type="POSITION" weightage="40" keywordseo="IAF-officer">IAF officer</keyword>. 
 But that is in the future. Friday will mark the actual IOC - which basically signifies the fighter is fully airworthy in different conditions, from extremely low temperatures of high-altitude areas to the searing heat of deserts - of the Tejas Mark-I. It will not be the specious one that the combine of Defence Research and Development Organization (DRDO), <keyword id="139969" type="CITY" weightage="40" keywordseo="Aeronautical-Development-Agency">Aeronautical Development Agency</keyword> (ADA) and <keyword id="139970" type="COMPANY" weightage="40" keywordseo="Hindustan-Aeronautics-Ltd">Hindustan Aeronautics Ltd</keyword> (HAL) passed off as IOC-I in January 2011. 
 
 
 
The Tejas Mark-I fighter, however, will be ready to go to battle only in 2015 once it gets the final operational clearance (FOC), after integration of all weapons and other systems to ensure it can fi re 23mm guns, rockets and BVR (beyond visual range) missiles as well as undergo air-to-air refuelling. As of now, the Tejas can let loose only close-range R-73 air-to-air missiles and air-to-ground laser and unguided bombs. 
 It's a no-brainer that India needs to have its own <keyword id="6500558" type="ENTERTAINMENT" weightage="40" keywordseo="Indigenous">indigenous</keyword> fighter in an era where the supremacy of airpower in shaping modern-day battles is unquestioned, and foreign imports can be choked in times of emergencies. 
 But the way the LCA project has meandered over the years, since it was fi rst approved in August 1983 at a paltry cost of Rs 560 crore to replace the ageing MiG-21s, has tested everyone's patience. So much so that TOI in April 2003, just before then PM <keyword id="47100" type="PERSON" weightage="40" keywordseo="Atal-Bihari-Vajpayee">Atal Bihari Vajpayee</keyword> named it "Tejas", had suggested it be christened "Jet-Ayu" - 'Ayu' being the Hindi word for age, and 'Jatayu', the bird king who fought Ravana in vain to prevent him from abducting Sita. 
 
Down to just 34 fighter squadrons, IAF is of course still fl ying the obsolete MiG-21s. Due to the huge delay in the LCA project, it still has around 250 MiG-21s in its combat fleet, having further staggered their already long-delayed retirement by at least another five years. Not only has the LCA been in the making for 30 years, with deadlines being missed time and again, its overall developmental cost has also zoomed up to Rs 17,269 crore. This includes the Kaveri aero engine, sanctioned in 1989 at a cost of Rs 2,839 crore, which flopped miserably. 
 Consequently, while the first lot of Tejas will be powered by the American <keyword id="45528" type="CITY" weightage="40" keywordseo="GE">GE</keyword>-404 engines, the Mark-II ones will have the more powerful GE F-414 engines. Over and above the developmental cost, each Tejas will cost around Rs 210-250 crore. So, the induction of 160 Tejas - 120 for IAF, 40 for Navy - will cost another Rs 35,000 crore. 
 
However, defence scientists pooh-pooh all this talk of high costs. 
 "A fourth-generation-plus fighter, Tejas will still be among the cheapest fighters in its class in the world. It's not easy to develop a digital fl y-by-wire supersonic fighter from scratch, especially when India faced international sanctions for several years after the Pokhran-II nuclear tests," said a <keyword id="9662" type="POSITION" weightage="40" keywordseo="Scientist">scientist</keyword>. 
 Though late in coming, the Tejas is certainly critical for the IAF to meet its lightweight fighter requirements. While the heavyweight fighter category is taken care of by the Sukhoi-30MKIs, the medium range is to be met by the proposed almost $20 billion MMRCA (medium multirole combat aircraft) project to acquire 126 <keyword id="6381048" type="ORGANIZATION" weightage="40" keywordseo="Rafale">Rafale</keyword> fighters. 
 "The MMRCA and Tejas squadrons are very critical for us to maintain our deterrence capability. Otherwise, our force levels will go down rapidly," says <keyword id="483998" type="POSITION" weightage="40" keywordseo="IAF-Chief-Air-Chief-Marshal">IAF chief Air Chief Marshal</keyword> NAK Browne.

Tejas: A Rs 50,000 crore bird for India

New Delhi, <keyword id="3658" type="General" weightage="20" keywordseo="India" source="Orion">India</keyword> on Thursday accorded an initial approval to defence acquisition projects worth Rs 2.23 lakh crore that included procurement of 97 <keyword id="6376012" type="General" weightage="20" keywordseo="Tejas" source="Orion">Tejas</keyword> light combat aircraft and 156 Prachand combat helicopters, in a major move to significantly enhance the combat capabilities of the armed forces. The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, cleared the projects, at a time India is locked in a bitter military standoff with China at a number of friction points in eastern Ladakh for over three years. The defence ministry said 98 per cent of the total procurement worth Rs 2.23 lakh crore will be sourced from the domestic industries and that the move will give a substantial boost to the Indian defence industry in achieving the goal of 'Aatmanirbharta' (self-reliance) in defence industry. The DAC also approved a proposal of the Indian Air Force to upgrade its Su-30 fighter fleet by state-run aerospace major Hindustan Aeronautics Ltd (<keyword id="68124" type="General" weightage="20" keywordseo="HAL" source="Orion">HAL</keyword>). The DAC further accorded Acceptance of Necessity (AoN) or initial approval for procurement of two types of anti-tank munitions namely area denial munition (ADM) type-2 and type-3. The top body on procurement of military hardware also cleared acquisition and integration of automatic target tracker (ATT) and digital basaltic computer (DBC) for T-90 tanks besides approving another proposal to buy medium range anti-ship missiles (MRAShM) for the Indian Navy. The MRAShM is a lightweight surface-to-surface missile which will be a primary offensive weapon onboard various Indian naval ships. "The DAC accorded AoNs for procurement of Light Combat Helicopter for Indian Air Force and Indian Army and Light Combat Aircraft (LCA) Mk-1A for IAF from Hindustan Aeronautics Limited (HAL) under Buy (Indian-IDDM) category," the ministry said. Though it did not mention the specific numbers, official sources said 97 Tejas Light Combat Aircraft (Mark 1A) are being procured for the IAF and 156 Light Combat Helicopters (LCH) are being procured for the Army and the Air Force. In February 2021, the defence ministry sealed a Rs 48,000 crore deal with the Hindustan Aeronautics Ltd for procurement of 83 Tejas MK-1A jets for the IAF. With the additional fleet, the number of indigenously-developed Tejas aircraft being procured by the IAF would go up to 180. "The AoNs have also been accorded by the DAC for upgradation of Su-30 MKI aircraft indigenously from HAL. "While procurement of these equipment will provide enormous strength to the IAF, acquisition from domestic defence industries will take the indigenous capability to a new height," the ministry said in a statement. "It will also reduce dependability on foreign Original Equipment Manufacturers (OEMs) substantially," it added.

India approves defence acquisition projects worth Rs 2.23 lakh cr

New Delhi, Feb 1 () Finance Minister Nirmala Sitharaman on Saturday said 100 more airports will be developed by 2025 to support the UDAN scheme.
 Presenting the Budget for 2020-21, Sitharaman said Rs 1.7 lakh crore has been provided for transport infrastructure in 2020-21.
She also said 1,150 trains will run under the public private partnership (PPP) mode, also four stations will be redeveloped with the help of the private sector.
Besides, the minister promised more Tejas type trains to connect tourist destinations.
 She said a proposal for setting up large solar power capacity alongside rail track is under consideration. TEAM MBI RKL ANZ MKJ

100 more airports to be developed by 2025 to support UDAN scheme: FM

<ul class="summary-list"><li>India has long been one of the world's biggest arms buyers, relying on others to equip its forces.</li><li>But New Delhi is investing heavily in domestic production to arm itself and export to the world.</li></ul>India has long been the world's largest arms importer, relying on other countries to supply it with <a href="https://www.businessinsider.com/india-china-buying-new-light-tanks-for-himalayan-mountain-warfare-2023-6">tanks</a>, <a href="https://www.businessinsider.com/first-jet-landing-on-vikrant-reflect-indian-aircraft-carrier-ambitions-2023-2">warships</a>, and <a href="https://www.businessinsider.com/indian-air-force-modernization-not-only-because-of-china-2021-9">fighter jets</a>. But it has been investing heavily in its domestic arms industry with the goal of equipping its own forces and increasing its arms sales around the world.New Delhi has made headway toward that goal with its "Make in India, Make for the World" initiative, launched in 2020, and by forging closer defense relationships with other countries.India's need to wean itself off its heavy dependency on arms imports became more apparent after Russia attacked Ukraine in 2022. New Delhi still has close ties with Moscow but the war has made the Russians less dependable suppliers.Recent arms sales and exercises illustrate how India seeks to turn that domestic arms production into foreign sales and perhaps even take some of that market away from its biggest supplier.<h2>Shopping around</h2><div type="image" title="India army soldier Pinaka rocket launcher parade" height="1333" width="2000" msid="104092852" hostid="261" sizebytes="141000"></div>In September 2022, India agreed to sell its powerful Pinaka multi-barrel rocket launchers to Armenia — the first foreign export of the Pinaka — along with anti-tank missiles and assorted ammunition in a $260 million deal.That sale came two and a half years after Armenia bought four of India's Swathi counter-battery radars, which track incoming artillery and rockets and plot return fire, for $40 million, choosing the Indian option over equivalent Polish and Russian systems in what was considered <a href="https://timesofindia.indiatimes.com/india/india-pips-russia-and-poland-for-40m-armenia-defence-deal/articleshow/74432148.cms" target="_blank" rel="noopener">a big achievement</a> for the then-nascent Make in India program.New Delhi's aspirations for <a href="https://timesofindia.indiatimes.com/india/centres-new-plan-to-boost-exports-of-made-in-india-weapons-to-africa-middle-east/articleshow/100054640.cms?from=mdr" target="_blank" rel="noopener">a foothold in the African and Middle East arms markets</a> would undoubtedly get a boost from a sizable arms deals with Egypt. Over the past decade, Egypt has spent large sums on high-end weapons systems, primarily from France and Russia. Between 2015 and 2019, <a href="https://www.wilsoncenter.org/article/egypt-and-allure-military-power" target="_blank" rel="noopener">Egypt was the world's third-largest arms importer</a>.India has been improving its ties with Egypt, as seen in their expanded military exchanges.<div type="image" title="India Narendra Modi Egypt Abdel Fattah al-Sisi Cairo" height="1479" width="1977" msid="104092853" hostid="261" sizebytes="91154"></div>India's air force and navy participated in Egypt's Bright Star-23, a multilateral military exercise, in September. It was the first time India had joined, and during the drills, an Indian air force Il-78 tanker <a href="https://timesofindia.indiatimes.com/india/exercise-bright-star-23-indian-air-force-refuels-egyptian-rafale-fighters/articleshow/103603060.cms?from=mdr" target="_blank" rel="noopener">refueled</a> Egyptian MiG-29M and Rafale fighters — Russian- and French-made jets, respectively.That refueling underscored the degree of interoperability the militaries have developed and illustrated the countries' rapidly growing defense ties — ties that may translate into arms sales, particularly of India's domestically developed weapons.In January, Egyptian President Abdel Fattah el-Sisi visited New Delhi and met with Indian Prime Minister Narendra Modi. The leaders <a href="https://www.bloomberg.com/news/articles/2023-01-25/india-hosts-egypt-s-sisi-as-it-looks-to-increase-defense-sales" target="_blank" rel="noopener">discussed</a> "defense platforms" and "equipment-related linkages" and <a href="https://www.reuters.com/world/india/india-egypt-will-seek-deepen-military-co-operation-foreign-secretary-2023-01-25/" target="_blank" rel="noopener">deepening cooperation</a> between their militaries and defense industries.In June, Modi visited Egypt, the first visit to Cairo by an Indian leader <a href="https://www.newarab.com/analysis/why-india-and-egypt-are-forging-new-strategic-relationship" target="_blank" rel="noopener">since 1997</a>, where the two leaders decided to boost cooperation in several fields, <a href="https://www.hindustantimes.com/india-news/modi-meets-egypt-s-sisi-to-deepen-bilateral-ties-101687718543603.html" target="_blank" rel="noopener">including security and technology</a>. During Modi's visit, a former Indian Air Force chief <a href="https://timesofindia.indiatimes.com/india/india-egypt-can-cooperate-in-field-of-military-rd-manufacturing-former-iaf-chief-on-pm-modis-state-visit/articleshow/101245090.cms?from=mdr" target="_blank" rel="noopener">told Indian media</a> that the countries were eager to cooperate on military research, development, and manufacturing.<div type="image" title="Egypt air force fighter jet India tanker refueling" height="1000" width="1500" msid="104092854" hostid="261" sizebytes="39568"></div>"There is a very significant possibility of exporting weapon systems, sensors and platforms and also supporting Egypt" in its efforts to "building up their own industrial complex," the former air force chief was quoted as saying, noting their "commonalities of equipment, and thinking."There have been reports that India is interested in <a href="https://www.theweek.in/news/india/2023/02/14/hal-pushing-for-lca-tejas-deal-with-malaysia-argentina-and-egypt-show-interest.html" target="_blank" rel="noopener">selling Egypt about 20</a> its Tejas light multi-role combat jets and in setting up production lines for that aircraft and for Indian-made helicopters in Egypt.In February, the chairman of Hindustan Aeronautics Limited, which makes the Tejas, <a href="https://www.egyptdefenceexpo.com/news/hal-egypt-tejas-aircraft-contract-works" target="_blank" rel="noopener">said</a> the company was in talks to supply 35 Tejas Mk-1As to Egypt alongside a complete technology transfer that would enable Cairo to build the aircraft locally. (Egypt and India collaborated on development of the Helwan HA-300 light supersonic interceptor in the 1960s, but that project was ultimately canceled.)India has also shown interest in exporting its domestically developed Akash medium-range air-defense system and the BrahMos cruise missile to a number of countries, <a href="https://www.al-monitor.com/originals/2021/02/egypt-india-russia-made-brahmos-missile-system-weapons.html" target="_blank" rel="noopener">including Egypt</a>. Brahmos is a joint Indian-Russian venture and officials are now <a href="https://www.reuters.com/business/aerospace-defense/india-russia-joint-venture-hopes-5-bln-supersonic-missile-exports-by-2025-2022-10-18/" target="_blank" rel="noopener">angling for billions</a> in foreign sales of it.<h2>Cashing in on the value market</h2><div type="image" title="India Narendra Modi helicopter factory" height="1157" width="2000" msid="104092855" hostid="261" sizebytes="138288"></div>While some of these deals could undoubtedly boost India's defense exports, it is still early days. After all, Indian defense exports in recent years were negligible compared to heavyweights like the US and France, and New Delhi remains heavily reliant on imports.In the coming years, India could carve out a sizable place for itself in the <a href="https://warontherocks.com/2022/05/helping-india-replace-russia-in-the-value-arms-market/" target="_blank" rel="noopener">growing market for "value arms,"</a> which caters to countries looking for a better deal on older or slightly less capable hardware.With a bigger share of that market, India could replace Russia and <a href="https://www.businessinsider.com/china-arms-sales-may-get-boost-from-russia-war-ukraine-2023-7" target="_blank" rel="noopener">compete with China</a> for exports, profits from which would also help Indian firms develop indigenously made equipment to fulfill domestic requirements.While selling arms to Armenia may eventually be seen as the start of the Make in India initiative's ambitious effort to take New Delhi from the being the world's largest arms importer to a significant exporter, making that transformation is much easier said than done.Securing even bigger deals with Egypt and other countries, and sweetening the pot with technology transfers and other incentives, might get that effort farther off the ground, helping India stand out in a crowded marketplace.Paul Iddon is a freelance journalist and columnist who writes about Middle East developments, military affairs, politics, and history. His articles have appeared in a variety of publications focused on the region.

India is a growing defense powerhouse, and now it's looking to cash in on it

New Delhi, Nov 19 () Customer engagement and rewards platform EasyRewardz on Tuesday said it has raised an undisclosed sum in series B funding from Walmart-owned Flipkart.
 The fund infusion will help EasyRewardz to drive new product development and accelerate global expansion, a statement said.
 EasyRewardz has more than doubled its customers and revenues since its series A funding round in November 2017, which was led by Trans-Continental Venture Fund (TCVF), it added.
 Other investors in the company include Venture Catalysts along with angel investors like Jitendra Gupta, Amrish Rau, Satyen Kothari, Ashneer Grover, Subrat Pani and others.
 "We see CRM Software adoption fastest amongst SMBs (small and medium business) in retail as customer centricity continues to hold centre ground in retailing," EasyRewardz co-founder and CEO Soumya Chatterjee said.
 CRM Software has a market size of USD 48 billion, and is seeing a 16 per cent year-on-year increase globally, with Asia Pacific growing faster at over 20 per cent,
 "We have firmly established our position in India, and have a toe-hold in MENA. We will now accelerate our global expansion to meet the growing demand of Customer Experience Management platforms," EasyRewardz co-founder and sales director Tejas Kadakia said.
 Founded in 2011 by Soumya Chatterjee, Tejas Kadakia, Angad Singh and Sapan Kadakia, EasyRewardz is a customer engagement SaaS solution company, and operates in India, South East Asia and Middle East, among others. The company currently has an annualised revenue of Rs 25 crore.
 "Flipkart continues to make investments in the Indian ecosystem in order to deliver value to our customers. Our investment in EasyRewardz is part of our ongoing initiatives to give superior customer experience," Flipkart said in response to queries on the investment. SR RVK

Flipkart invests in EasyRewardz

India concludes its glorious '<keyword id="49993" type="ENTERTAINMENT" weightage="20" keywordseo="beating-the-retreat">Beating the Retreat</keyword>’ ceremony on the third day following country’s Republic day, on 29 January 2019. The ceremony that marks the end of Republic day festivities, was held at Vijay Chowk in New Delhi with India’s President, Ram Nath Kovind inaugurating the ceremony with a salute. The event witnessed the presence of other political dignitaries including Prime Minister Narendra Modi and former PM Manmohan Singh. The Indian Army, Indian Navy and Indian Air Force tuned in to the beats of 27 tunes along with 18 military bands playing in the backdrop. In fact, this year, Indian compositions dominated the event — including ‘Namaste India’, ‘Indian Soldiers’ and ‘Tejas’ — celebrating the local Indian music. As traditional as it may sound, the event closed to the beats of ‘Saare Jahan se accha’ with the Rashtrapati Bhawan (President's Secretariat) kindled with national colors. Here’s an insight into the historic tradition: <div type="Slideshow" msid="67750827" hostid="261" title="India's armed forces put on a glorious show for the President — inspired by a 17th century British tradition" firstImageMsid="67751082" slideCount="8"></div>

India's armed forces put on a glorious show for the President — inspired by a 17th century British tradition

New Delhi, Feb 27 () Business management software provider Tally Solutions on Thursday launched a software solution through which businesses can access Tally reports on any device including mobile and ipad.So far, it was accessible only on laptops and desktops. The company said that with this launch, it aims to assist businesses access critical business data anywhere through any device, "securely and privately, while keeping the data on customer's machines itself". The application, it said, will empower entrepreneurs with business information like business reports and invoices. "This will be accessible to them on web browsers, removing the dependency of having a particular type of computer or device, or installing Tally for the access," it added. During the launch, Tejas Goenka, Managing Director, Tally Solutions, said that "with more and more people on the move, the need to see their data and take decisions anytime, anywhere is going to transform the ease of doing business". Business can get top-level reports like balance sheet, profit and loss, stick summary, bills payable/receivable. JD MKJ

Business owners can now access Tally reports on any device: Tally Solutions

New Delhi, Nov 22 () A clutch of Indian vendors of Bharat Sanchar Nigam Ltd (BSNL) on Friday sought the telecom department's intervention for release of outstanding dues of nearly Rs 1,600 crore, pertaining to Bharat Net II project.
 These companies, which have sought intervention of Department of Telecom (DoT) Secretary Anshu Prakash, said they are "deeply troubled" over non-payment of dues and sought immediate release of outstanding payments.
 The companies that have approached the DoT flagging their concerns on pending dues include Sterlite, Tejas, Paramount Wires And Cables Ltd (PWCL), Aksh Optifibre, Finolex among others, and the dues run into Rs 1,600 crore, said Sandeep Aggarwal, Managing Director of Paramount Communications.
 "The dues are towards supply of cable, electronics and pipes and are linked to Bharat Net II project," Aggarwal, who is also the Chairman of Telecom Committee of PHD Chamber of Commerce and Industry, told reporters.
 The Union Cabinet had, last month, approved a plan to combine MTNL - which provides services in Mumbai and New Delhi - with BSNL that services the rest of the nation.
 It also approved a Rs 69,000-crore revival package, including monetising their assets and giving VRS to employees.
 The package includes infusion of Rs 20,140 crore for purchase of 4G spectrum, Rs 3,674 crore for GST to be paid on spectrum allocation, companies raising Rs 15,000 crore in debt on the sovereign guarantee and government funding Rs 17,160 crore VRS and another Rs 12,768 crore towards retirement liability.
 The two firms will also monetise assets worth Rs 37,500 crore in the next three years. MTNL has reported losses in nine of the past 10 years and BSNL too has been ringing in loss since 2010. The total debt on both companies stood at Rs 40,000 crore, of which half of the liability is on MTNL alone. MBI MBI ANU
ANU

BSNL vendors seek DoT intervention over Rs 1,600 cr dues linked to Bharat Net 2

New Delhi, Feb 19 () Widening its probe into the busting and arrest of the country's first darknet-based narcotics operator, the NCB on Wednesday said it has nabbed three more persons and seized over 135 kg of psychotropic drugs and tablets worth Rs 4 crore. The agency said it has arrested Nagpur-based Sachin Makade (33), who holds a diploma in pharmacy; Tejas Patel (28); and Barun Chauhan (33), an MBA, under the Narcotic Drugs and Psychotropic Substances (NDPS) Act after raids were conducted in this 'Orange City' of Maharashtra on February 11. The Narcotics Control Bureau (NCB), the federal anti-drugs agency, had on February 2 arrested India's first 'darknet' narcotics operative from Lucknow, Dipu Singh, who allegedly shipped hundreds of psychotropic drug parcels abroad in the garb of sex stimulation medicines. The fresh arrests were made after Singh's interrogation about his alleged illegal activities and contacts, NCB's Delhi zone director K P S Malhotra said. "These people arrested from Nagpur were involved in arranging the drugs shipments from Singapore to USA and UK," Malhotra said. About 135 kg of psychotropic drugs and another 1 lakh such tablets worth Rs 4 crore have been seized as part of the fresh action, he said. Darknet refers to the deep hidden internet platform that is used for narcotics sale, exchange of pornographic content and other illegal activities by using the secret alleys of The Onion Router (Tor) to stay away from the surveillance of law enforcement agencies.The NCB had earlier said that payment gateways of cryptocurrency like Bitcoins and Litecoin were used by these alleged darknet narcotics operators to conceal the transactions from regulatory agencies. The orders were procured from darknet and routed through various wicker identities, WhatsApp and some business-to-business platforms. NES SMN

Darknet drugs racket: NCB widens probe, arrests 3 more from Nagpur

New Delhi, Feb 1 () The Finance Minister's focus to provide impetus to the travel and tourism sector along with development of transportation infrastructure will accelerate the sector's contribution towards country's economy, according to industry players.
 "Increased allocation of funds for the Ministry of Tourism and Ministry of Culture, development of financial roadmaps for tourist destinations and plans to assign specified grants for states will go a long way in accelerating the contribution of the sector towards India's economy," MakeMyTrip Co-founder and CEO-India Rajesh Magow said.
 Presenting the Budget for 2020-21, Finance Minister Nirmala Sitharaman on Saturday said Rs 3,150 crore has been allocated for the Ministry of Culture and Rs 2,500 crore for the Ministry of Tourism.
 "Additionally, development of five iconic archeological sites across Haryana, Uttar Pradesh, Assam, Gujarat and Tamil Nadu comes as a strategic step towards boosting domestic and inbound heritage tourism to these states," Magow said.
 According to Thomas Cook India Chairman and MD Madhavan Menon said, "... an Indian Institute of Heritage and Conservation will be set up with the status of a deemed university, and this is an imperative towards education and skill development of our sector that contributes a significant 10 per cent to India's GDP".
 The Union Budget intended to give impetus to the Travel and Tourism sector with the allocation of Rs 2,500 crore and equally critical allocation of Rs 1.7 lakh crore towards transportation infrastructure in 2020-21, he added.
 In similar vein, ITC Ltd Executive Director and Chairman-FAITH Nakul Anand said "the allocation to develop 100 new airports by 2024 and the soon to be introduced Tejas trains for iconic destinations are advancements in modern infrastructure that augur well for Indian tourism."
 InterGlobe Hotels President and CEO J B Singh said, "we are hoping that this budget will help in creating and developing new and iconic destinations, thereby redefining the tourism industry, for the better and further improve spending, domestic travel and all this will have great long term benefits for the economy".
 Stating that the vision of government to invest in the tourism sector will be a great push for the hospitality sector, Apeejay Surrendra Park Hotels MD Vijay Dewan said: "India's heritage and culture rich experiences have always attracted tourists to the country and government's plan to develop five archaeological sites at iconic sites with on-site museums will attract more tourists from India and globally."
 Sterling Holidays CMD Ramesh Ramanathan said: "We are pleased with the proposed budget, as it will play a pivotal role in the hospitality and domestic tourism sector, and will have a multiplier effect across the board."
 Travel Food Services COO and Business Head Gaurav Dewan said: "The government's focus on development is clear and reinforced with the allocation of additional funds to the Airport, Railway and the Highway sectors."
 This will boost business and leisure travel thereby generating employment, connectivity and overall economic development of catchment areas, he added.
 "The government's push for infrastructure development by building more airports and the announcement of new Tejas trains will boost tourism outside the main centers. This, in turn, will have a positive impact on the hotel sector," Cygnett Hotels and Resorts Founder and MD Sarbendra Sarkar said.
 It is heartening to see a budget that focuses on improving standards of living as well as economic development, OYO, India South Asia CEO Rohit Kapoor said. AKT DRR

You Searched For "delhi tejas" and got 11 results

Tejas Networks posts loss of Rs 112 cr in Dec quarter

PTI

Tejas: A Rs 50,000 crore bird for India

Times Of India

India approves defence acquisition projects worth Rs 2.23 lakh cr

PTI

100 more airports to be developed by 2025 to support UDAN scheme: FM

PTI

India is a growing defense powerhouse, and now it's looking to cash in on it

Paul Iddon

Flipkart invests in EasyRewardz

PTI

India's armed forces put on a glorious show for the President — inspired by a 17th century British tradition

BI India Bureau

Business owners can now access Tally reports on any device: Tally Solutions

PTI

BSNL vendors seek DoT intervention over Rs 1,600 cr dues linked to Bharat Net 2

PTI

Darknet drugs racket: NCB widens probe, arrests 3 more from Nagpur

PTI

Govt's focus on providing impetus to travel, tourism sector positive move: Industry

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