Tag Archives: Prime Minister

Maharashtra, Virgin Hyperloop One to build India’s first hyperloop

Virgin Hyperloop One has announced Maharashtra’s intent to build a hyperloop between Pune and Mumbai beginning with an operational demonstration track. Richard Branson, Chairman, Virgin Hyperloop One announced the framework agreement in the presence of Prime Minister Narendra Modi and Maharashtra Chief Minister Devendra Fadnavis to begin the development of the route. Recognizing the Maharashtra government’s contribution to the country’s economy, Modi said, “51 per cent of total investments in India have come to Maharashtra, and the state is attracting global investors. The state’s overall development in the past few years is a shining example of improving conditions in the country.” “I believe Virgin Hyperloop One could have the same impact upon India in the 21st century as trains did in the 20th century. The Pune-Mumbai route is an ideal first corridor as part of a national hyperloop network that could dramatically reduce travel times between India’s major cities to as little as two hours,” said Branson. The hyperloop route will link central Pune, Navi Mumbai International Airport, and Mumbai in 25 minutes, connecting 26 million people and creating a thriving, competitive mega region. The high-capacity passenger and cargo hyperloop route will support 150 million passenger trips annually, saving more than 90 million hours of travel time, and providing citizens with social and economic mobility.  

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Cabinet approves 49% FDI in Air India

The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to a number of amendments in the FDI Policy -one of them allowing foreign airlines to invest up to 49 per cent under approval route in Air India. These are intended to simplify the FDI policy to provide ease of doing business in the country. As per the extant policy, foreign airlines are allowed to invest under Government approval route in the capital of Indian companies operating scheduled and non-scheduled air transport services, up to the limit of 49 per cent of their paid-up capital. However, this provision was presently not applicable to Air India, thereby implying that foreign airlines could not invest in Air India. Foreign airlines can now invest up to 49 per cent under approval route in Air India subject to the conditions that foreign investment(s) in Air India including that of foreign airline(s) shall not exceed 49 per cent either directly or indirectly. Substantial ownership and effective control of Air India shall continue to be vested in Indian National.

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Portugal to open office in India

Soon, Portugal tourism ministry will be making a direct presence in India, in Mumbai, by opening a tourism office. Luis Araujo, President, Turismo De Portugal, reveals, “We will open a new tourism office in Mumbai this year which will interact with the travel trade and to work with them. We will have someone from Portugal stationed here. We will also appoint a local representative as it is important to have someone who already understands the market and will know what works here.” Portugal has Europe’s first Prime Minister who is of Indian descent – Antonia Costa whose father was of Goan, Portuguese, and French descent. This is among the many cultural connections that Portugal has with India.

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Crimea assures safety to Indian tourists

In the wake of recent disturbances, Crimean authorities have assured Indian tourists that the country is a “safe travel destination.” Prime Minister of the Republic of Crimea, Sergey Valeryevich Aksyonov, said, “I want to assure tourists from India that Crimea is a safe travel destination. We welcome guests. Especially as Russia and India have long-term friendly relations. The inflow of tourists to Crimea has increased. Crimea remains one of the most popular holiday destinations for those from Russia and outside.” Crimea has been under Russian control since 2014. According to the Russian Federal Security Service, armed clashes took place in northern Crimea last month involving a group that had allegedly came from Ukrainian territory to commit acts of terrorism in public places and thus disrupt the tourist season on the peninsula.   (issued by Russia Info Centre and PTI)

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