PM to consult senior ministers over introducing FDI in domestic aviation

   Apr 17, 12:56 pm

New Delhi, April 17 (ANI): The Prime Minister, Dr. Manmohan Singh, is likely to consult senior ministers of his cabinet on ways to build a consensus on the contentious issue of allowing foreign airlines to invest in domestic carriers.

The Department of Industrial Policy and Promotion (DIPP) have reportedly moved a final cabinet note on the issue.

Dr. Singh is likely to hold consultations with Finance, Commerce and Home Ministers, besides, Railways Minister Mukul Roy, who is from the Trinamool Congress (TMC), a key ally in the UPA Government," they said.

The TMC had forced the government to put on hold the decision to allow 51 per cent foreign direct investment (FDI) in multi-brand retail.

Finance Minister Pranab Mukherjee in his Budget speech had said that a proposal to allow foreign airlines to participate with up to 49 per cent in the equity of an air transport undertaking, engaged in operation of scheduled and non-scheduled air transport services, is under active consideration of the government.

At present, India allows foreign investors, not related in any way to airline business, to buy up to 49 per cent stake in domestic airlines, but foreign carriers are not permitted to invest in them. (ANI)

Wellness experts Dr. Deepak Chopra, Upasna Kamineni launch 'Jiyo' at Nasdaq Jun 30, 11:22 am
New Delhi, June 30 (ANI-BusinessWireIndia): World renowned physician, New York Times best-selling author and wellness expert Dr. Deepak Chopra, M.D. and Upasana Kamineni launched a new wellbeing platform called 'Jiyo', in partnership with Apollo Life, a leader in the health and wellness segment in South Asia, at NASDAQ, New York, today.
Full Story
ShopClues achieves milestone with half a million sellers on platform Jun 30, 10:57 am
New Delhi, June 30 (ANI): India's first and largest managed marketplace ShopClues has hit another milestone in its on-going success story by having half a million sellers on its platform. The increased number of merchants has significantly boosted the total available products and unstructured offerings from various regions of the country on ShopClues.
Full Story
Cabinet's approval on 'Model Shop, Establishment Act' a progressive move: FICCI Jun 30, 10:40 am
New Delhi, June 30 (ANI): The Union Cabinet's clearing the Model Shops and Establishment (Regulation of Employment and Conditions of Service) Bill, 2016, has been welcomed by the FICCI Retail and Internal trade committee.
Full Story
Morgan Stanley positive on Hindalco, says growth from higher cash flows Jun 30, 10:33 am
New Delhi, June 30 (ANI): Brokerage house Morgan Stanley is overweight on Hindalco Industries as it believes that the company will benefit from improved cash flows from higher aluminium price and volume growth.
Full Story
Comments