01 February - The International Airports Authority of India (IAAI) was established in 1972

 

The International Airports Authority of India (IAAI) was established on 01 February 1972 to oversee the management, development, and modernization of India's international airports. It was created to enhance the efficiency of airport operations, improve infrastructure, and ensure better international connectivity.

Before the establishment of IAAI, India's airports were managed under various regional and government authorities without a centralized system. The formation of IAAI helped streamline airport administration, upgrade facilities, and implement global aviation standards.

In 1995, the IAAI merged with the National Airports Authority (NAA) to form the Airports Authority of India (AAI), which now manages both international and domestic airports across the country. This unification aimed to improve coordination, resource utilization, and overall airport infrastructure development in India.

01 February - ONGC became a public limited company in 1944

 

On 01 February 1994  the Oil and Natural Gas Corporation (ONGC) transitioned from a government-owned corporation to a public limited company, a move that significantly reshaped India's energy sector. This transformation allowed ONGC to access capital markets, attract private investments, and operate with greater financial autonomy while remaining under government control. As a public limited company, ONGC was able to expand its operations, modernize its infrastructure, and enhance corporate governance. The shift also facilitated its listing on stock exchanges, providing an opportunity for investors to participate in its growth. Despite this structural change, ONGC continued to play a vital role in India's oil and gas exploration and production, reinforcing its position as the country’s premier energy company.