India is considering limiting the Import of Private Jets

The memo states that the government will look for measures to "boost exports and control a surge of non-essential imports" in order to lower the trade deficit. In an effort to address a widening trade imbalance, India, a nation in South Asia, has considered restricting the purchase of private helicopters and planes, according to a document from the aviation ministry that Bloomberg obtained.

According to the letter from December 6, turbojets and any aircraft import weighing more than 15,000 kilograms (33,100 pounds) unladen are likewise "non-essential" and shouldn't be brought in from overseas as frequently as they are at the moment.

In order to reduce the trade deficit, the government will find ways to "increase exports and restrict a surge of non-essential imports," according to the India Import Data.

The document recommends consulting with the Federation of Indian Chambers of Commerce and Industry, National Aerospace Laboratories, and India's aviation authority when developing a plan.

A spokeswoman for the Ministry of Civil Aviation did not immediately respond to requests for comment.

The judgement might be a setback for aircraft producers who serve the ultra-rich in India. The patriarch of the Tata Group, Ratan Tata, flies a Dassault Falcon 2000, while former billionaire Anil Ambani owns a Bombardier global express aircraft, according to reports in the local media. The second-richest individual in Asia and owner of a Boeing business jet is Mukesh Ambani.

Alternately, the decision might support the government's plans to promote aircraft leasing through the Financial Services Center at Gujarat International Finance Tec-International City (IFSC).

Further Statement by Central Government

The regulations also go against India's desire to increase the usage of helicopters throughout its vast country, which has virtually limited indigenous aircraft production. According to Aviation Minister Jyotiraditya Scindia, India is attempting to encourage shared ownership of helicopters to make them accessible to a wider population. Asia's third-largest economy could suffer from export restrictions without significantly growing domestic production of private aircraft and helicopters.

India's trade deficit widened in October as worries about an export-harming global slowdown grew.

The rupee reached a record low in July as a result of the country's widening trade deficit, which prompted the finance ministry to levy levies on gold. Also know Importers Data

The government's classification of aircraft, helicopters, and business jets as non-essential imports is both perplexing and shocking, according to Mark Martin, founder of the Martin Consulting LLC in Dubai, who also obtained a copy of the letter.

Aircraft and helicopters are an essential kind of air transportation that stimulates economic growth and provides direct indirect tax revenue to the government. Given how many of Bombardier Inc.'s business jets have entered the country of South Asia, Martin said this may "destroy" the company's market there.

Kanika Tekriwal, the founder of private jet operator JetSetGo Aviation Services Pvt., attacked the ministry's suggestion, stating that while the sector should use made-in-India items, in practise there are no businesses producing private jets and helicopters domestically. Instead of increasing the trade deficit because private aircraft are being serviced abroad due to a lack of infrastructure in India, she suggested that the government minimise it.

According to the letter, imports of helicopters with an unladen weight of more than 2,000 kilos increased 42% in the five months leading up to September compared to the same period last year. According to the report, turbojet imports rose 34%. Also, if you need any relevant information about the India Import Data or Importers Data. Export Import Data professionals are here to assist you. Contact Export Import Data right away to get structured, reliable, and well-organized data hassle-free.