Singapore Airlines confirms talks with Tata on Vistara-Air India merger
Singapore, Oct 14: Singapore Airlines has confirmed that it is in talks with India's Tata Group over a potential merger of Vistara airline, a joint venture between the two companies, and Air India -- the 100 per cent acquisition of which the Indian conglomerate has recently completed.
The confirmation comes amid Indian media reports that Tata, having completed its acquisition of a 100 per cent stake in Air India, and looking at merging it with Vistara.
Tata has a 51 per cent stake in Vistara, while SIA holds 49 per cent.
"The discussions seek to deepen the existing partnership between SIA and Tata, and may include a potential integration of Vistara and Air India," SIA said in a statement to the Singapore Exchange.
"The discussions are ongoing and no definitive terms have been agreed upon between the parties."
It is unclear what stake, if any, SIA would have if Vistara merged into Air India, or whether fresh funds would be needed for the ailing Air India group, according to a report by The Straits Times.
The SIA statement noted that any deal would need the green light from Singapore's competition watchdog and the authorities in India.
Vistara was established in 2013, giving the SIA group a stake in India's fast-growing aviation sector.
India has strong domestic and international traffic flows, which are tipped to more than double over the next 10 years.
The International Air Transport Association has noted that India will become the third-largest aviation market in the world - including international and domestic traffic - by around 2024.
Indian Civil Aviation Minister Jyotiraditya Scindia said in November 2021 that India has already become the third-largest domestic aviation market in the world.
The SIA sees the Vistara stake as an integral part of its multi-hub strategy, giving it access to important sources that complement its strong Singapore hub, said The Straits Times report.
It provides Vistara with operational and management expertise while Tata provides the corporate umbrella and domain knowledge in India.
Vistara's chief executive is Singaporean Vinod Kannan, who has been seconded from SIA.
His predecessor was his colleague Leslie Thng, who has returned to Singapore and is now CEO of Scoot.
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'Made in India' must become symbol of excellence, global competitiveness: PM
New Delhi (PTI): Prime Minister Narendra Modi on Sunday called upon states to encourage manufacturing, boost 'ease of doing business' and strengthen the services sector to make India a global services giant.
Addressing the 5th National Conference of Chief Secretaries here, Modi emphasised the need for quality in governance, service delivery and manufacturing, and said the label 'Made in India' must become a symbol of excellence and global competitiveness.
He said India has the potential to become the world's food basket and the country must move towards high-value agriculture, horticulture, animal husbandry, dairying and fisheries to become a major food exporter.
"Called upon states to encourage manufacturing, boost 'Ease of Doing Business' and strengthen the services sector. Let us aim to make India a Global Services Giant," Modi said in a series of posts on X.
The theme of the three-day conference, which began on December 26, was 'Human Capital for Viksit Bharat'.
Modi observed that this conference marks another decisive step in strengthening the spirit of cooperative federalism and deepening Centre-State partnership to achieve the vision of a 'Viksit Bharat'.
Highlighting India's demographic advantage, he said nearly 70 per cent of the population is in the working-age group, creating a unique historical opportunity which, when combined with economic progress, can significantly accelerate the journey towards a 'Viksit Bharat', according to an official statement.
Modi said India has boarded the "Reform Express", driven primarily by the strength of its young population, and empowering this demographic remains the government's key priority.
He noted that the conference is being held at a time when the country is witnessing next-generation reforms and steadily moving towards becoming a major global economic power.
Underlining the need to strengthen 'atmanirbharta' (self-reliance), he said India must pursue self-reliance with zero defect in products and minimal environmental impact, making the label 'Made in India' synonymous with quality and strengthening the commitment to "zero effect, zero defect".
The PM urged the Centre and states to jointly identify 100 products for domestic manufacturing to reduce import dependence and strengthen economic resilience in line with the vision of 'Viksit Bharat'.
In higher education, too, he said, there is a need for academia and industry to work together to create high-quality talent.
He highlighted that India has a rich heritage and history with the potential to be among the top global tourist destinations.
Modi urged the states to prepare a roadmap for creating at least one global-level tourist destination and nourishing an entire tourist ecosystem.
He said it is important to align the national sports calendar with the global sports calendar.
"India is working to host the 2036 Olympics. India needs to prepare infrastructure and sports ecosystem at par with global standards," he said.
The prime minister said the next 10 years must be invested in the states, only then will India get the desired results in such sports events.
Every state must give this top priority and create infrastructure to attract global companies, he said.
In the services sector, Modi said, there should be greater emphasis on other areas like healthcare, education, transport, tourism, professional services and artificial intelligence, etc. to make India a global services giant.
He said India will soon be launching the National Manufacturing Mission (NMM).
States should work in tandem with the discussions and decisions emerging from the conferences of both chief secretaries and DGPs to strengthen governance and implementation.
The PM said similar conferences could be replicated at the departmental level to promote a national perspective among officers and improve governance outcomes in pursuit of a 'Viksit Bharat'.
In conclusion, he said every state must create a 10-year actionable plan based on the discussions of this conference with one, two, five and 10-year target timelines wherein technology can be utilised for regular monitoring.
The conference featured a series of special sessions that enabled focused deliberations on cross-cutting and emerging priorities.
It marks another important milestone in strengthening the Centre-State partnership through structured and sustained dialogue on national development priorities, according to the statement.
The PM's principal secretaries P K Mishra and Shaktikanta Das, Cabinet Secretary T V Somanathan, members of the NITI Aayog, chief secretaries of all states and Union territories, and domain experts attended the meeting.
Anchored in the prime minister's vision of cooperative federalism, this conference serves as the forum where the Centre and states collaborate, designing a unified roadmap to maximise India's human capital potential and accelerate inclusive, future-ready growth.
It has been organised annually over the past four years.
The first conference was held in Dharamshala in June 2022, followed by subsequent conferences in New Delhi in January 2023, December 2023 and December 2024.
