Fresh govt push for retail, civil aviation FDI

New Delhi: The government has not given up on liberalizing the foreign direct investment (FDI) regime despite suffering a setback on allowing foreign retail chains to set up shop in India. Within a week of announcing a pause on FDI in multi-brand retail, it is beginning fresh consultations with stakeholders, starting Tuesday, to get the plan back on track.
To begin with, the food processing sector and small and medium enterprises are being consulted, with farmer groups and traders to follow.
Separately, the finance ministry is in talks with the Securities & Exchange Board of India (SEBI) to see how foreign airlines that acquire stakes in Indian carriers are not bogged down by the new Takeover Code in completing transactions. The new rules mandate that companies acquiring 25% or more in another entity have to make an open offer for an additional 20% stake.
13/12/11 Sidhartha/Times of India

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Categories: Foreign Dec 2011, Indian Aviation- In General Dec 2011