Current Affairs - Economy - Discussion

The government has authorized 100% Foreign Direct Investment (FDI) via the automatic route for the aircraft Maintenance, Repair, and Overhaul (MRO) sector. This move is aimed at boosting the MRO industry by increasing foreign investment. Alongside this, a uniform 5% IGST rate on aircraft parts and tools imports has been introduced, which enhances the sector’s competitiveness. The new policies also include extended export periods, reduced GST, exempted customs duty, and simplified clearance procedures, all designed to improve efficiency and attract investment.