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11-Jan-2018 10:26 AM

Foreign airlines permitted to invest up to 49% in Air India

India's Minister of Civil Aviation Ashok Gajapathi Raju, via his official Twitter account, confirmed (10-Jan-2018) a new foreign direct investment (FDI) policy for Air India. He tweeted: "Foreign airlines now allowed to invest up to 49% under the approval route in Air India as well". India's Minister of State for Civil Aviation, via his offiical Twitter account, similarly commented: "New Air India FDI policy approved by the Cabinet". Indian Government principal spokesperson and principal director general of Press Information Bureau Frank Noronha added: "Cabinet approves amendments to liberalize and simplify #FDIPolicy, to improve #EaseofDoingBusiness; will lead to larger FDI inflows, boosting investment, income and employment", continuing: "The amendments to #FDIPolicy are being introduced, given the country's potential to attract far more foreign investment". Commerce and Industry Minister Suresh Prabhu, meanwhile, tweeted: "Major FDI policy reforms approved by Union Cabinet… This will liberalise and simplify the FDI policy and provide ease of doing business in the country". [more - original PR]

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