A consortium composed of Brookfield and the Core Infrastructure India Fund Pte Ltd are buying the projects, six of which are operational, said Ambit Holdings, which advised Gammon on the deal.

The deepening downturn in India's crucial building sector makes it easily understandable why the Prime Minister's  image as the country's economic saviour has lost its lustre just over a year after his resounding election victory.

India has spent more than $50 million since 2009 on eight airports that are complete but do not receive a single scheduled flight. Experts say the govt has invested in these airports without any economic logic.

The $26.5-bn order for 250 A320Neo aircraft is the biggest-ever deal by number of planes for the French aerospace giant.

Mumbai-based Jet, country's second-largest carrier by market share, said net profit in the April-June quarter was at Rs 221 crore ($33.80 million), compared with a loss of Rs 218 crore the same quarter last year.

The budget airline is in talks with Boeing and Airbus Group to acquire about 100 new narrow-body jets.

SpiceJet made a net loss of Rs 124 crore in the same quarter a year earlier. Country's second-biggest budget carrier by market share, which last quarter made its first profit since 2013, is in the midst of a recovery plan after it almost collapsed late last year.

\"Mahindra Aerospace has no plans to enter commercial aviation. It is restricted to the manufacture of utility aircraft and aerostructures,\" Anand Mahindra said on Twitter.

The 225 km (140 mile) highway is still missing seven bridges, several stretches need to be widened to the projected six lanes, and miles of land have not yet been acquired. The road should have opened three years ago.

The largest order approved was for 428 L-70 and ZU23 air defence guns worth around Rs 16,900 crore, the spokesman said after a meeting of the country's Defence Acquisition Council.

The two groups will form a joint venture in the coming months, aiming to become the first private manufacturer of helicopters in India, the statement said. It did not say how much the two will invest.

The money pouring into the country's solar industry is likely to be soaked up by foreign-organised projects such as one run by China's Trina Solar - not the country's own solar panel manufacturers.

Construction of the Eastern Dedicated Freight Corridor will help speed up the carrying of goods between Ludhiana and Kolkata, and is part of a series of new freight lines the World Bank says India needs to ease congestion on its network.

The airline, part-owned by Malaysia's AirAsia Bhd, has carved out a 1 per cent share of a market enjoying double-digit annual growth in passenger numbers.

SoftBank, which has said it will invest $10 billion in India over time, said on Monday that the companies had a minimum commitment of generating 20 gigawatts of energy.

The projects on protective clothing and next-generation power sources for the battlefield will each have $1 million in funding shared equally by the two sides, a US defence official said.

Having roughly doubled spending allocations for roads and bridges in fiscal 2015/16, and raised the rail budget by a third, PM Modi is banking on India going faster.

L&T said a subdued investment climate in the past year had limited opportunities for the capital goods and infrastructure sector, but it had seen signs of a pickup in India.

\"These results indicate that a recovery is in progress and is the first tangible evidence of the ongoing revival, \" Chairman Ajay Singh who led a rescue package for the airline last year when it had run out of money, said in a statement.

The government says lower welfare spending will be compensated for by giving state governments a larger allocation of tax revenues to spend as they choose. But state chiefs have warned that the spending shakeup endangers the country's most vulnerable.