FDI limit in aviation on cards

New Delhi: The Union Cabinet will take up soon a proposal to raise FDI limit in non-scheduled airlines and ground handling services and allowing 100 per cent foreign investment in titanium mining.
Government sources said the Commerce Ministry has proposed allowing 74 per cent FDI through the automatic route in non-scheduled, chartered and cargo airlines.
However, the FDI limit in air transport services would continue to remain at 49 per cent through the automatic route and 100 per cent for NRIs.
It is also proposed to allow FDI in ground handling services up to 74 per cent. The Ministry wants to allow 100 per cent foreign investment in the Maintenance, Repair and Overhauling and aviation training institutes.
Hundred per cent FDI may be allowed in the mining of titanium bearing minerals and ores, but complete foreign participation in value addition would be allowed only if the facilities are set up in India.
30/11/07 PTI/The Hindu

To Read the News in full at Source, Click the Headline

Categories: Foreign Dec 2007, General Aviation Dec 2007