India jet fuel exports may fall this year

NEW DELHI: India’s record jet fuel exports may fall this year as an expanding middle class and cheaper air travel boost local consumption, potentially raising ailing profit margins. Prime Minister Narendra Modi last month launched the first flight under the Regional Connectivity Scheme that is designed to spur air travel between smaller Indian cities and to make flying more affordable. The government will cap fares under the scheme and offer airlines incentives to fly less traversed routes. Agencies