New Delhi, May 9 -- The PHD Chamber of Commerce and Industry (PHDCCI) welcomed the government's decision to approve a Rs 5,000 crore emergency credit support scheme for airlines under ECLGS 5.0 to address the financial and operational stress arising from the ongoing West Asia crisis.
"The Government's swift intervention through the Rs 5,000 crore emergency credit scheme demonstrates strong policy responsiveness towards one of the most critical pillars of India's services economy,"Rajeev Juneja, President of PHDCCI, said.
Juneja noted that aviation is the backbone of tourism, trade and business mobility and supporting airline stability at this juncture will have a cascading positive impact across the broader economy, including hospitality,...