Centre allows 74 per cent DI for non-scheduled airlines

New Delhi: The Centre went ahead on Wednesday to notify liberal foreign direct investment (FDI) norms for aviation, commodity exchanges, credit information companies, titanium mining, industrial parks and petroleum & natural gas.
The Centre allowed FDI up to 74 per cent on the automatic route for non-scheduled airlines, chartered airlines and cargo airlines. However, there will be no direct or indirect participation by foreign carriers in nonscheduled airlines and chartered airlines, but 100 per cent NRI investment would be allowed on the automatic route.
The norms also allowed 74 per cent FDI in ground handling services, while investment by NRIs up to 100 per cent has been allowed on the automatic route.
13/03/08 Newindpress

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Categories: Foreign Mar 2008, Indian Aviation- In General Mar 2008