India’s Ministry of Civil Aviation (MoCA) reported plans to introduce the 2018 Cape Town Convention Bill. Through its implementation, MoCA aims to decrease costs and risk associated with aircraft leasing in India. “The risk reduction will result in reduction in the cost of aviation credit and will also bring down the lease rentals. This will be of immense help to the Indian aviation industry.” The Indian Civil Aviation Ministry said. The implementation of the aircraft equipment protocol of the 2001 Cape Town Convention is designed to reduce risk associated with aircraft leasing and financing transactions for lessors, operators and creditors. The Organisation for Economic Cooperation and Development (OECD) is supporting the implementation of the convention and offered that 10 per cent discount would be given in the processing fee for a loan to acquire aircraft to airlines of any country that is party to the Cape Town Convention/ Protocol. For the subsequent implementeation the ministry issued a proposal for enactment.