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)

Amazon.in launches dedicated store for National Sports Day Aug 27, 6:54 pm
New Delhi, August 27, 2015: In a bid to commemorate National Sports Day which falls on August 29 and marks the birth anniversary of India's hockey legend Dhyan Chand, Amazon.in is launching a dedicated National Sports Day store which goes live tomorrow.
Full Story
One trillion dollar investment opportunity in India - Creating strategic partners in the Gulf region Aug 27, 6:37 pm
Dubai - UAE, August 27, 2015: The recent state visit of Indian Prime Minister Narendra Modi to the UAE begun a new era of bilateral relations and opened up new opportunities for trade and commerce.
Full Story
Shardul Amarchand Mangaldas & Co. advises on acquisition of controlling stake in Involute Technologies Pvt. Ltd. Aug 26, 8:28 pm
New Delhi/Mumbai, Aug. 26 (ANI- NewsVoir), Aug. 26 (ANI): Shardul Amarchand Mangaldas & Co. (SAM & Co.) advised the BMT Group in their acquisition of a controlling stake in Involute Technologies Private Limited for Rs. 170 crores.
Full Story
Jaguar F-PACE sets standard for ride and handling Aug 26, 8:08 pm
New Delhi, Aug. 26 (ANI): Featuring sports-car derived chassis systems and evaluated on the same demanding roads as all other Jaguar vehicles, the new F-PACE will offer an unrivalled breadth of dynamic ability.
Full Story
Comments