India implements significant economic changes by implementing new policies across aviation and steel sectors and banking to develop fundamental industries and draw in investments.
The Protection of Interests in Aircraft Objects bill received parliamentary approval to align Indian aviation laws with the Cape Town Convention and Protocol. The new legislation will protect aircraft lessors better while decreasing leasing expenses and building investor confidence in the rapidly growing Indian aviation industry. The new rules will enable airlines to obtain aircraft more easily while lowering their financial exposure.
The Domestically Manufactured Iron and Steel Products Policy 2025 became effective starting April 1st when the government implemented it. The new policy requires all government agencies to choose steel products made domestically instead of importing them from China and Japan and South Korea. The policy seeks to defend national steel industries while promoting homegrown steel manufacturing and protecting employment within the sector.
Indian banks have suggested significant changes to the Reserve Bank of India’s (RBI) liquidity management framework in the financial sector. The banking industry advocates for switching from the current 14-day variable rate repo system to an overnight fixed-rate liquidity tool because it will enhance daily liquidity management. The banking industry supports using the Secured Overnight Rupee Rate (SORR) as the new benchmark for monetary operations because it will stabilize short-term interest rates.
The upcoming changes will transform India’s economy by solidifying its position as a leading global power in aviation manufacturing and finance.
