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

Business Finance

Press Trust of India  |  New Delhi 

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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, July 18 2018. 20:21 IST