Business, Economy & Banking Current Affairs - 2019

Business, Economy and Banking in Current Affairs 2019 with latest news and current affairs in Agriculture, Industry, Banking, Capital Markets, Import and Export and Government schemes in commercial sector.

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AAI signs pact with Boeing to modernise India’s Air Traffic Management

The Airports Authority of India (AAI) signed a technical assistance agreement with Boeing to develop and modernise India’s Air Traffic Management.

Key Highlights

  • Roadmap: Aerospace major Boeing entered into a technical assistance pact with AAI to jointly develop a comprehensive 10-year roadmap for modernising air traffic management in India. It is expected to be developed within 1.5 years (18 months).
  • The roadmap will be undertaken with a grant from the United States Trade and Development Agency (USTDA).
  • The roadmap so developed by Boeing will be used as guidance in the modernisation of the Indian National Airspace System (NAS). It will be based on global and local best practices of optimally utilising airspace capacity, enhancing communications and also investing in surveillance, navigation and air traffic management.
  • Boeing will also analyse current technologies and processes to identify efficiency improvements that can be implemented in project undertaken at the same time maintaining a practical and safe airspace system.
  • Collaboration: As part of the project Boeing will work closely with Directorate General of Civil Aviation (Indian aviation regulator), airlines operating in India, airport operators and other airspace stakeholders like US-India Aviation Cooperation Program (ACP).
  • Significance: Airports Authority of India (AAI) owns and manages around 125 airports across India thus implementation of modern technologies and adoption of global practices will allow India to increase its airspace capacity significantly. It will improve communications, enable flexible use of airspace in country and will also allow safe processing of additional flights using air navigation infrastructure for more efficient skies in India.

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Sahara Evols: electric vehicles by Sahara Group

Sahara Group recently announced its entry into the automobile sector with plans of launching electric vehicles under the brand name ‘Sahara Evols’.

The Sahara business group plans to offer a wide range of electric vehicles (EVs) along with advanced allied services. The entry into electric vehicle business is a move to push adoption in Tier II and III cities.

About Sahara Evols

  • Variants: Its product portfolio comprises variants of electric scooters, three-wheelers, motorcycles, and cargo vehicles. It will also introduce a network of battery-charging-cum-swapping stations.
  • Coverage: Sahara Evols will start from Lucknow and will further establish its ecosystem in India’s Tier-II and Tier-III cities by the end of financial year 2019-2020 in a phased manner. The company will roll out its products and services pan-India in the next financial year (2020-2021).
  • Features: The Sahara Evols electric vehicles are powered by dry lithium-ion batteries. Their cost of driving in an average can go as low as 20paise per kilometer (against driving cost of Rs.2 per kilometer on petrol vehicles). This will entail direct and substantial economic benefits to its users.

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