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<ul><li><keyword id="151350" type="PERSON" weightage="20" keywordseo="Hardeep-Singh-Puri">Hardeep Singh Puri</keyword> will be in charge of civil aviation and housing &amp; urban affairs.</li><li>Two career diplomats, S Jaishankar and Hardeep Singh Puri, have found space in Narendra Modi's new cabinet.</li><li>Puri was India's Permanent Representative to the United Nations between 2009 and 2013.</li><li>Puri, a former member of the India's Foreign Service, joined the BJP in 2014.</li></ul>Going into his second term, Narendra Modi has roped in two career diplomats into ministerial roles, S Jaishankar and Hardeep Singh Puri. Puri has been vested with two very important ministries - civil aviation, and housing &amp; urban affairs. He is also the junior minister in commerce and industry, which is headed by Piyush Goyal. The portfolio signals the amount of trust Modi has vested in Puri who joined the Bharatiya Janata Party (BJP) only in 2014, and lost his debut in electoral politics from Amritsar this year. Ailing exports has been unresolved issue for the Indian economy for a few years now. The country's civil aviation sector has fallen from grace, and the most recent crisis in Jet Airways has been a sign of the many woes that hound the sector. With the reduction in number of planes operating, airfares have spiked in recent months bringing the growth in passenger traffic to a grinding halt. Aside from these two ministries, Puri will be spearheading two of Modi's pet projects- housing and smart cities. The government has promised 'housing for all' by 2022 and Puri will be responsible in picking up the programme's pace. The Urban Affairs department will be responsible for rolling out smart city projects, which have also been one of Modi govenrment's flagship programmes in the first term. Puri, a former member of the India's Foreign Service, served as India's Permanent Representative to the United Nations (UN) between 2009 and 2013. He joined the BJP in 2014 and his wife Lakshmi Puri is the Assistant Secretary General at the UN. In his time at the foreign service, Puri served in key countries like Brazil, Japan, Sri Lanka, and United Kingdom. He was also the coordinator for the Uruguay Round of Multilateral Negotiations. However, his attempt to garner votes as a politician did not pay off. He lost the 2019 elections when he fought from Amritsar. In 2014, former finance minister Arun Jaitley fought from the constituency but he also lost. In both cases, the Modi wave did not help. Even as the party swept a majority of the seats in the Lok Sabha, the lower house of Indian Parliament, the candidates from Amritsar failed. SEE ALSO: <a href="https://www.businessinsider.in/politics/new-cabinet-ministers-smriti-irani-gets-women-child-development-and-textiles-ministry/articleshow/69594920.cms" data-type="tilCustomLink" target="_blank">Smriti Irani gets two portfolios – Women &amp; Child Development and Textiles</a>

India's former representative to UN is the country's new minister for civil aviation and two of Modi's pet projects

<ul><li>The shares of India’s largest airline, IndiGo, were down nearly 15% since March but the stock recovered nearly half of the fall on May 21.</li><li>The shares of SpiceJet climbed over 5% hitting the upper circuit set by the stock exchanges.</li><li>Union civil aviation minister Hardeep Singh Puri announced that the domestic flights' operations will resume from May 25.</li></ul>The shares of Interglobe Aviation, the operator India’s largest airline IndiGo, were down nearly 15% since March but the stock recovered nearly half of the fall on May 21. SpiceJet climbed over 5% hitting the upper circuit set by the stock exchanges. The stellar rally in airline stocks was triggered by the Indian government’s decision to resume domestic flights from May 25 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2445817" data-url="https://flo.uri.sh/visualisation/2445817/embed"></div>]]></cdata></div> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2445791" data-url="https://flo.uri.sh/visualisation/2445791/embed"></div>]]></cdata></div>Yesterday Union civil aviation minister Hardeep Singh Puri announced that the domestic flights' operations will resume from May 25 in a calibrated manner and all airports and airlines are being informed to prepare for the resumption. <div type="twitter" handle="HardeepSPuri" handlename="Hardeep Singh Puri" image="http://pbs.twimg.com/profile_images/1176854328184692737/P6qL9CFp_normal.jpg" favoritecount="23278" retweetcount="6148" status="Domestic civil aviation operations will recommence in a calibrated manner from Monday 25th May 2020.All airports… https://t.co/xm9YjtMtXz" createdat="1589974072000" id="1263068920690302977"></div> SEE ALSO: <a href="https://www.businessinsider.in/india/news/indian-domestic-flights-to-resume-from-may-25-after-a-long-halt/articleshow/75847769.cms" data-type="tilCustomLink">India allows domestic flights to resume from May 25 after a long halt</a>

Within minutes, IndiGo’s shares nearly halve their losses since March-end after India allows local flights to resume from May 25⁠— SpiceJet soars too

<ul class="summary-list"><li>Global crude would hit $150 if India bought more from the Middle East than from Russia, Hardeep Singh Puri told CNBC.</li><li>"The world is grateful to India for buying Russia's oil," the petroleum and natural gas minister said. </li></ul>Inflows of Russian crude into India are keeping global oil prices from surging, India's Minister of Petroleum and Natural Gas said."If India, instead of buying Russian oil, we start buying more of the Middle Eastern oil, oil prices will not be at $75 or $76; it will be $150," Hardeep Singh Puri told <a href="https://www.cnbc.com/2024/02/08/india-buying-russian-oil-keeps-prices-cheaper-says-oil-minister-puri.html" target="_blank" rel="noopener">CNBC</a> during the India Energy Week conference. He pushed back on criticism that the country's continued trade with Russia supports Moscow's war in Ukraine, noting that Indian oil companies will snap up the cheapest crude available, with no attention paid to politics.That's likely why discounted Russian barrels made up an <a href="https://www.reuters.com/markets/commodities/cheap-russian-oil-cuts-opecs-share-india-imports-record-low-50-2024-01-18/" target="_blank" rel="noopener">all-time high</a> among India's crude imports last year, while flows from the Middle East, a traditional source of trade, hit a record low."The world is grateful to India for buying Russia's oil," Puri noted. Wild price swings defined crude markets in the latter half of 2023, as production cuts from the OPEC coalition <a href="https://africa.businessinsider.com/markets/oil-prices-at-dollar100-a-barrel-look-too-high-for-global-demand-to-sustain/t1qzqy0" target="_blank" rel="noopener">fueled fears</a> that oil prices would eventually breach triple digits. The Israel-Hamas war only added to tensions, while attacks on Red Sea shipping lanes added pressure to the oil trade.But the US' <a href="https://markets.businessinsider.com/news/commodities/us-oil-production-record-brent-crude-prices-opec-russia-saudi-2023-12">blowout crude production</a> last year has kept prices from rising, dampened further by falling demand and China's economic slowdown. In fact, economists have suggested that geopolitical turmoil is the only factor supporting current price levels — crude would otherwise stand at an <a href="https://markets.businessinsider.com/news/commodities/oil-price-outlook-opec-china-red-sea-shipping-crude-supply-2024-2?_gl=1*4w47cj*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcwNzQxMTE0MC4xMDUuMS4xNzA3NDExNjI0LjI1LjAuMA..">estimated $70</a>.Although Puri dismissed the political undertones of trading with Russia, Western measures against Moscow have had some impact on India's imports. After <a href="https://markets.businessinsider.com/news/commodities/india-mideast-russian-crude-exports-discounts-sanctions-price-cap-puri-2024-1">Indian refineries took on larger inflows</a> of Saudi oil in January, the minister blamed it on Moscow's failure to comply with the $60 price cap on its exports. The sanction was placed on Russia after its invasion of Ukraine."When Russian prices don't conform, we buy from Iraq, the UAE, Saudi Arabia," Puri said at the time.

Oil prices would double if India didn't trade with Russia, energy minister says

<ul><li><keyword id="6358932" type="UNKNOWN" weightage="20" keywordseo="Union-Minister">Union Minister</keyword> <keyword id="151350" type="PERSON" weightage="20" keywordseo="Hardeep-Singh-Puri">Hardeep Singh Puri</keyword> announced that <keyword id="357506" type="COMPANY" weightage="20" keywordseo="Metro-networks">metro networks</keyword> are going to be expanded to 15 other cities across the country.</li><li>India already has an operational metro network of over 515 kms and will expand to 660 kms more for rapid urban transformation.</li><li>The state governments and union territories have been asked to submit a Detailed Project Report (DPR).</li></ul>Spread over 10 cities across the country, India's metro network is now set to expand its operations to at least 15 more cities. The Union Minister of State for Housing and Urban Affairs, Hardeep Singh Puri, made the announcement on Monday and also listed the new cities out. Currently, the metro rail line has an operational network of over 500 kms and will expand to 660 kms more for rapid urban transformation. As of now, metro is functional in 10 cities including Delhi, Kolkata, Mumbai and Bengaluru and Kolkata being the first to kick off metro services in India in 1984. Fifteen more cities are also under consideration for metro coverage. Puri said that nearly 664 kms of metro rail network is under various stages of implementation while more than 515 kms is already operational in India. Nagpur, Pune and Ahmedabad are likely to get the network by <a href="https://economictimes.indiatimes.com/industry/transportation/railways/15-more-cities-will-soon-have-metro-network-union-minister-puri/articleshow/66419131.cms">next year</a>. The new cities that are on the list include Varanasi, Indore, Coimbatore, Kanpur, Bhopal, Patna, Surat, Guwahati, Visakhapatnam, Thiruvananthapuram and Navi Mumbai. In an interaction with the members of Consultative Committee, Puri spoke about the new urban transformation in India and pointed out that the government provides financial support to metro rail projects in 3 forms. It can either give a grant to states of up to <a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=184454">10%</a> of project costs, in the form of a 50:50 equity sharing with state governments or a viability gap funding to the extent of <a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=184454">20%</a> of the capital cost of public transport projects under a PPP model. The state government and union territories, on the new list of 15 cities, have been asked to prepare a Detailed Project Report (DPR) in accordance to the provisions in the Metro Rail Policy 2017 and submit it to the central government. The policy aims to ensure convenience to the people dependent on public transport. At the interaction, Puri also mentioned that the provision of last mile connectivity for the <keyword id="6366797" type="UNKNOWN" weightage="20" keywordseo="Delhi-Metro">Delhi Metro</keyword> is at an advanced stage. The minister also said that the projects proposed under Regional Rapid Transit System (RRTS) comprising <a href="https://www.livemint.com/Companies/jXD7k2n3NfbPGfqwtQOT3M/15-Indian-cities-where-Metro-train-work-is-going-on.html">373 kms</a> between Delhi-Meerut, Delhi-Panipat and Delhi-Alwar are under planning and that the ministry has released funds for various metro projects amounting to <a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=184454">₹748.1 billion</a> in 2018-19 (up to 30 September 2018).

India to extend metro services to 15 more cities

<ul class="summary-list"><li>Indian Oil and Gas Minister Hardeep Singh Puri doesn't see de-dollarization as taking root yet.</li><li>"I wish the Indian rupee should be the lead currency in the world. But I'm also a realist," he said.</li></ul>The greenback's dominance is under no real threat from emerging market currencies, <a href="https://www.cnbc.com/2023/08/25/de-dollarization-a-long-way-off-india-oil-minister-hardeep-singh-puri.html" target="_blank" rel="noopener">India's oil and gas minister told CNBC</a>, despite recent efforts to de-dollarize global trade. The dollar is the dominant form of payment for commodities like oil. But in June, <a href="https://markets.businessinsider.com/news/currencies/dedollarization-dollar-dominance-indian-refiners-russian-oil-china-yuan-renminbi-2023-7">Indian refiners used China's yuan to buy Russian crude</a>. And earlier this month, an <a href="https://markets.businessinsider.com/news/currencies/dedollarization-dollar-war-india-uae-currency-crude-oil-trade-markets-2023-8#:~:text=India%20bought%201%20million%20barrels,been%20pushing%20to%20de%2Ddollarize.">Indian refiner used rupees to buy oil</a> from the UAE. When asked about the dollar's role in the oil market, Hardeep Singh Puri replied, it's "not so easy" to replace it. When pressed further if the dollar's prominence will remain, he replied, "Yes, I think it will."His comments come after the BRICS bloc of developing economies held its 15th annual summit last week, where ideas for how to de-dollarize were discussed. The coalition — made up of Brazil, Russia, India, China, and South Africa — has previously floated the concept of a new BRICS currency, but <a href="https://www.bloomberg.com/news/articles/2023-08-24/brics-currency-was-never-on-table-south-african-finance-chief-says" target="_blank" rel="noopener">support for such an initiative</a> was relatively lacking during the event. More emphasis was laid on efforts to increase trade in existing <a href="https://www.businessinsider.com/dedollarization-russia-putin-trade-local-national-currencies-yuan-ruble-sco-2023-7?IR=C">local currencies</a>.In his interview with CNBC, Puri said if the BRICS coalition expands, "Does that mean an alternate global currency is coming? Come on — I've been in this game long enough."He added, "International arrangements, trading arrangements, payment arrangements, these have been in place for a long time." Some non-dollar trade deals have already been met with challenges. For instance, separate reports said recently that despite prompting from the Indian central bank, private-sector companies have <a href="https://markets.businessinsider.com/news/currencies/dedollarization-dollar-dominance-india-central-bank-uae-trade-rupee-dirham-2023-8">remained hesitant</a> to purchase oil in currencies outside the dollar.And evidence is still lacking of significant dollar erosion. In fact, the greenback recently hit an <a href="https://markets.businessinsider.com/news/currencies/dedollarization-suffers-blow-swift-usd-share-global-payments-hits-record-2023-8">all-time high in its share of global transactions</a>, according to recent data from the SWIFT payments system. As of July, it accounted for 46% of international trade."I wish all the currencies very well. I wish the Indian rupee should be the lead currency in the world. But I'm also a realist," Puri said on Friday.

Key BRICS member admits the dollar will remain dominant despite oil deals in rupees and yuan

New Delhi, Jan 27 () Civil aviation minister Hardeep Singh Puri on Monday said Air India along with Air India Express is a "great asset", as the government came out with preliminary bid document for disinvestment of the national carrier.
 The Minister of State for Civil Aviation said the successful bidder would continue to use Air India brand.
 The government on Monday announced sale of 100 per cent stake in debt-laden Air India as it issued the preliminary bid document for the strategic disinvestment and has set March 17, as the deadline for submitting expression of interest.
 As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low-cost airline Air India Express and 50 per cent shareholding in joint venture AISATS, as per bid document issued on Monday.
 Management control of the airline would also be transferred to the successful bidder.
 The Minister of State for Civil Aviation further said the lessons have been learnt from 2018 with regard to Air India stake sale.
 In 2018, the government proposed to offload 76 per cent equity share capital of the national carrier as well as transfer the management control to private players. However, there were no bidders. RAM DRR
DRR

Air India along with Air India Express "great asset": Hardeep Singh Puri

New Delhi, Mar 5 () The civil aviation ministry on Thursday said the expenditure incurred for CISF security at various airports stood at Rs 1,632.85 crore up to January in the current fiscal. The Central Industrial Security Force (CISF) is deployed at 62 airports, Minister of State for Civil Aviation Hardeep Singh Puri told the Lok Sabha on Thursday. In the current fiscal up to January, the expenditure incurred for deploying CISF at various airports stood at Rs 1,632.85 crore, he said in a written reply. He also said an amount of Rs 1,964.32 crore has been collected as Aviation Security Fee (ASF) up to January in the current financial year.ASF is levied on each embarking passenger at airports but there are also exemptions."Currently, ASF is collected in a central pool and the proceeds are used to meet CISF expenditure at all airports," Puri said. RAM ANUANU

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India's former representative to UN is the country's new minister for civil aviation and two of Modi's pet projects

BI India Bureau

Within minutes, IndiGo’s shares nearly halve their losses since March-end after India allows local flights to resume from May 25⁠— SpiceJet soars too

Navdeep Yadav

Oil prices would double if India didn't trade with Russia, energy minister says

Filip De Mott

India to extend metro services to 15 more cities

BI India Bureau

Key BRICS member admits the dollar will remain dominant despite oil deals in rupees and yuan

Filip De Mott

Air India along with Air India Express "great asset": Hardeep Singh Puri

PTI

Expenses for CISF airport security at Rs 1,633 cr till Jan this fiscal

PTI

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