Airlines start recruiting :
Indian airlines are once again looking to expand their fleet and network.
They have even started their hiring activities which were curtailed during the first few months of the pandemic.
Vistara has hired more than 50 operational staff in the last few months. It also added five aircraft to its fleet recently. IndiGo is also hiring across all verticals.
The industry is also witnessing growth in demand. But, with Covid-19 cases rising again, the industry is still far from being normal. And, the recovery is expected to remain slow and gradual.
To be clear, the industry is still far away from being in expansion mode.
Currently, the recruitments are being conducted mainly to replace the recent exits. Still, it is a relief considering that only a few months back there was a perceived fear of massive layoff.
Rapid expansion in the service sector:
India's services activity grew at a rapid pace in February. The growth last month was at the fastest pace compared to last year. Purchasing Managers’ Index (PMI) raced to 55.3 as against 52.8 of January.
February PMI data showed a solid growth performance for the Indian services sector. Even manufacturing witnessed a robust upturn. Manufacturing PMI for February was at a four-month high of 57.3 in February.
Latest improvement in PMI indicators points to a strong expansion in the fourth quarter after coming out of a technical recession in the third quarter.
Despite the strong expansion, some negatives cannot be neglected. The job market continued to suffer as employment declined for the third month in a row. The survey indicated that the labor market will take more time to recover.
Apart from that, firms faced the strongest increase in input costs in eight years. However, most companies have managed to absorb these costs for now without passing them on to customers.
Maritime India Vision 2030 :
Prime Minister Narendra Modi recently launched the Maritime India 2030 vision. It focuses on reviving the ports and related activities. Under this vision, India will invest USD 82 billion in port projects by 2035.
It includes the government's focus on creating next-generation infrastructure, increasing the usage of clean renewable energy in the maritime sector, and boosting tourism around lighthouses as part of port-led development. The government is also looking to operationalize 23 waterways by 2030. They would provide a cost-effective and environment-friendly alternative for domestic freight transport.
With this new maritime vision, the government is aiming to bring up new reforms. Currently, India's ports are notoriously famous for lengthy approval processes, delays in shipments, and unfriendly export-related policies.
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