[New Delhi]Govt Relaxes Its Gripes Over Air India:49 % FDI Allowed
Modi government today relaxed FDI norms in various sectors such as single brand retail and allowed foreign airlines to invest up to 49 per cent in Air India. The decision was taken during the Cabinet meeting chaired by Prime Minister Narendra Modi . The Cabinet allowed overseas investors to invest 100 per cent FDI (foreign direct investment) in single brand retail trading and construction development without any government approval,
. “Foreign airlines allowed to invest up to 49 per cent under approval route in Air India,” the statement said. As per the policy, foreign airlines are allowed to invest under government approval route in Indian companies operating scheduled and non-scheduled air transport services, up to the limit of 49 per cent of their paid-up capital. However, the provision was not applicable to Air India, thereby implying that foreign airlines could not invest in Air India. “It has now been decided to do away with this restriction and allow foreign airlines to invest up to 49 per cent under approval route in Air India,”
Tag: Foreign Direct Investment
Govt Relaxes Its Gripes Over National Carrier Air India:49% FDI
India Opens Market To Foreigners Coming With 100% Direct Investments
[New Delhi]India Opens Market To Foreign Direct Investors For 100% Investments
Govt Opens Market For Foreign Direct Investors Coming With 100% FDI norms in civil aviation, defence, pharma
Central Government today relaxed Foreign Direct Investment (FDI) norms in a host of sectors including civil aviation, single-brand retail, defence and pharma by permitting more investments under automatic route.
Other sectors in which FDI norms have been relaxed include e-commerce in food products, broadcasting carriage services, private security agencies and animal husbandry.
“Now most of the sectors would be under automatic approval route, except a small negative list. With these changes, India is now the most open economy in the world for FDI,” said an official statement.
The decision to further liberalise FDI regime with the objective of “providing major impetus to employment and job creation in India” was taken at a meeting chaired by Prime Minister Narendra Modi today.
This is the second major reform in the FDI space.
The Centre in last November had significantly relaxed the foreign investment regime. .
At Last proposal Of Rs 2057.66 crores F D I In M/s Jet Airways India Has Been Recommended
At Last Government has recommended The proposal of Rs 2057.66 crores F D I In M/s Jet Airways India . This investment is above Rs. 1200.00 crore .So ,now ,this will go to CCEA for their consideration
Government Of India Approves Seventeen (17) Proposals of Foreign Direct Investment Amounting to about Rs. 992.61 Crores Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 29, 2013, the Government has approved 17 Proposals of Foreign Direct Investment (FDI) amounting to Rs. 992.61crore approximately.
In addition, one proposal viz., M/s Jet Airways India Ltd., amounting to Rs. 2057.66 crore, has also been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA).
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