India more than good friend, a trusted strategic partner: Israeli minister
Tel Aviv (PTI): At a function marking India's 77th Republic Day, Israel's Culture and Sports Minister Miki Zohar said his country attaches utmost importance to its ties with New Delhi, describing India as a strategic partner.
Zohar on Monday told the gathering that India’s Republic Day celebrations had also become a special day for Israelis, as Israel announced recovering the remains of the last hostage in Gaza from the October 7, 2023 Hamas attack.
"Today is also a special day for us. Our last hostage, Ran Gvili, came back home. This is something that all of the country is so happy about and it comes with your special day. I think it means a lot about the great relationship between the countries. Your happiness is also our happiness," the Israeli minister said.
In a dastardly terror attack, Hamas killed about 1,200 Israelis and took 251 living and dead people as hostages on October 7, 2023.
"India is a nation with a story of freedom, resilience, and spirit that inspires so many Israelis. For us, Israelis, India is far more than a good friend. India is a strategic partner that we can trust," Zohar told the gathering of about three hundred people.
"India and Israel share today a lot in common, also common interests, and similar visions for the future. Over the years, the relationship between our two nations has grown broader, deeper and more dynamic," he said.
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Referring to "the constant flow" of high-level visits between Jerusalem and New Delhi, the Israeli minister said that it is not merely a diplomatic routine, but a "reflection of the close ties between us and the importance we attach to our ties at the highest levels".
Israeli Minister of Tourism Haim Katz, Minister of Economy and Industry Nir Barkat, Minister of Agriculture and Food Security Avi Dichter, and Finance Minister Bezalel Smotrich visited India last year as the strategic partners build up momentum to sign a Free Trade Agreement.
The two countries signed a Bilateral Investment Treaty (BIT) during Smotrich’s visit and then a Terms of Reference (TOR) leading to FTA during the visit of Minister of Commerce and Industry Piyush Goyal to Israel.
Goyal's visit was followed by External Affairs Minister S Jaishankar and Minister for Fisheries, Animal Husbandry and Dairying Rajiv Ranjan Singh's visit to Israel in quick succession.
Israeli Prime Minister Benjamin Netanyahu has hinted at a visit at the prime ministerial level "very soon", demonstrating the growing engagement between the two countries.
Speaking after the screening of a video showing some of the major developments between the two sides on the bilateral front, Zohar also pointed out the close chemistry between Netanyahu and Prime Minister Narendra Modi as a contributing factor in the strengthening of ties.
"We saw the pictures of Prime Minister Netanyahu and Modi, and we can see the friendship (between them), and I know that of course this relation helped a lot the relation between our nations," he said.
The personal equation between the two leaders has been a subject of widespread discussion in Israel, and a picture of the two of them walking on the beach barefoot during Modi's historic visit to Israel in 2017 had gone viral, evoking comments of "bromance".
"These exchanges have made cooperation stronger across a wide range of fields from innovation, defence, agriculture and water management to science, health and emerging technologies," Zohar said.
He also appreciated the expansion of direct Air India flights between Tel Aviv and New Delhi, describing it as a factor that adds "depth and vitality" in bilateral relations.
"The expansion of direct flights between Israel and India has brought our people closer than ever before. It is wonderful for tourism, business relations, academic exchanges and cultural dialogues. It gives our partnership its true depth and vitality," he said.
"A key milestone in our relationship has been the adoption of the joint action plan for 2026, which stands as a testimony of the solid foundation and vision that we share together.
"It shows not only what we have achieved together but our shared commitment to working side by side to meet future challenges and (create) new opportunities. It is a road map guided by trust, ambition and a belief in the power of collaboration as we look ahead," he said, touching upon ongoing discussions between the two sides.
"Israel sees India as a great partner in shaping our future together for the benefit of our peoples and the wider international community," he added.
Zohar also thanked India for its steadfast support following Hamas' October 7 attack.
"Before I finish my speech, I will say a few words from the bottom of my heart. India supported Israel during the time of the massacre of October 7, and Israel will appreciate that forever because on that day we saw other opinions of different countries, but India stood with Israel," he said.
"It was important to us so much because Israel, as a country, pursued peace. We didn't want war but we showed the world that we can fight and we can win. We didn't start this war and we didn't want this war. We had to defend ourselves and this is what we will do," he said.
"We can see that the Middle East is changing right now because we say 'no' to terror and I am sure that all of the free world will join this important opinion," he added.
Modi was among the first world leaders to condemn the Hamas attack.
"On this special day, I wish the people of India peace, prosperity and success. May the friendship between Israel and India continue to grow from strength to strength in the years to come," Zohar said.
People from the Indian community and Jews of Indian origin attended a programme on Monday morning in Herzliya, where India's Ambassador to Israel J P Singh unfurled the national flag and read excerpts from President Draupadi Murmu's speech.
In the evening, Singh touched upon various developments on the bilateral front and also applauded the important contribution made by the Indian Jewish community in Israel in strengthening bilateral ties, serving as a bridge between the two countries.
The evening event showcased the ‘One District - One Product’ exhibition, and also featured cultural performances by Indian and Israeli artists, reflecting the richness of India’s heritage.
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Air India resorts to cost-cutting ways amid 'tough times'; layoffs not anticipated
New Delhi/Mumbai (PTI): Hit hard by Pakistan airspace closure and Iran war, Air India has resorted to cost-cutting measures, including holding back annual increments for staff and asking them to cut discretionary spending as well as non-critical expenditures, warning of "tough times".
On Friday, Air India Chief Executive Officer & Managing Director (CEO & MD) Campbell Wilson told the staff it is going to be a "very, very difficult year" if things don't improve on the Middle East front.
A day after the loss-making airline's board discussed various cost-saving steps, Wilson, along with Chief Financial Officer (CFO) Sanjay Sharma and Chief Human Resources Officer (CHRO) Ravindra Kumar GP, addressed the employees during a townhall on Friday where the emphasis on the need to keep a close watch on costs.
With higher jet fuel prices due to the West Asia conflict and airspace curbs, the loss-making airline's expenses have spiralled in recent times and against this backdrop, Sharma also told staffers that FY26 has seen a softening in revenue amid heightened external uncertainties.
Calling for a relentless focus on costs in these tough times, Wilson urged employees to suspend discretionary spending, renegotiate rates where feasible, and defer non-critical expenditures.
"There must be a laser-sharp focus on eliminating wastage and leakages," he said.
Stressing the need to tighten the belt for a while, Wilson sounded optimistic that travel demand would rebound and the industry would continue on its upward path.
CHRO Ravindra Kumar told staff that the airline will proceed with variable pay for the last financial year and continue with planned promotions while noting that annual increments will be deferred by at least one quarter.
"We don't anticipate layoffs," he said.
At the airline's board meeting on Thursday, various cost-saving steps, including likely furloughs, were discussed. The Tata Group-owned airline has around 24,000 employees.
Generally, furlough refers to sending staff on unpaid leaves by companies during a tough financial situation.
During the townhall, CFO Sanjay Sharma said while strong revenue growth and fleet expansion drove financial momentum through FY25, FY26 has seen a softening in revenue amid heightened external uncertainties.
Air India has seen around 40 per cent CAGR (Compounded Annual Growth Rate) in revenue between 2022 and 2025, he added.
The airline was acquired by the Tata Group from the government in January 2022.
The Air India CEO mentioned the external challenges being facing the aviation industry as a whole, including the continued closure of Pakistan airspace that is expected to persist for the foreseeable future and geopolitical conflicts leading to disruptions and airspace closures across West Asia.
Wilson, who is set to step down later this year, also flagged a sharp depreciation of the rupee and a 2.5-3 times increase in jet fuel prices, and added that these factors have adversely affected travel sentiment and consumer confidence, as per the sources.
If the Strait of Hormuz opens, oil prices fall and consumer as well as business confidence come back, there is a decent chance of a solid recovery, Wilson said, adding that unless those circumstances happen, it was going to be "a very, very difficult year".
"I feel somewhat responsible that we ended up with probably the biggest surprise of the year in the external environment which was a full-scale war in our neighbouring region in the Gulf. That has had a huge impact on airspace," he said.
For Air India, Wilson said the situation is compounded by the fact that the airline cannot fly over the neighbouring country and has to take a much longer routing for any west-bound destination.
"Every airline is reporting that they are under some sort of financial pressure as a result of higher fuel prices and economic uncertainty. So, it is unfortunately not a great environment to be running an airline," the Air India CEO said.
The Air India Group -- Air India and Air India Express -- is projected to have incurred more than Rs 22,000 crore loss in the financial year ended March 2026.
At the townhall, Wilson also highlighted various initiatives, including completion of the retrofit of its legacy narrow-body aircraft and rapid network optimisation to redeploy capacity more efficiently.
