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Aviation sector to be revived via FDI

Neha Dhamija


In an attempt to strengthen the aviation industry, government is considering a proposal allowing foreign airlines (like Singapore Airlines, Lufthansa and British Airways) to hold stake in domestic players. The concerned ministry is to meet the industry stakeholders soon, to have their opinions and finalize on the plans.


The information was confirmed by the aviation secretary M Madhavan Nambiar while he was interacting with reporters as part of Indo-US Chambers of Commerce summit. He said that the amount to be permitted and other terms are yet to be decided, after consulting the players of industry. When inquired whether the norms would be finalized before parliamentary elections, he expressed uncertainty over the possibility. A similar suggestion was made by a group of ministers in 2004; however it was rejected owing to the raising concerns that this will kill the domestic sector.


Presently, no investment from overseas airlines is allowed though a provision of investment for up to 49% by companies other than this sector exists.

 
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