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22-Feb-2016 10:53 AM

Ratan Tata accuses incumbent Indian airlines of 'lobbying for protection and preferential treatment'

Tata Sons chairman emeritus Ratan Tata, via his official Twitter account, accused (21-Feb-2016) older airlines in India as "monopolistic". He accused incumbent airlines of lobbying and using "monopolistic pressures" to retain preferential treatment under the 5/20 rule. Mr Tata said: "It is sad to see the incumbent airlines lobbying for protection and preferential treatment for themselves against the new airlines which have been formed in full compliance with prevailing government policy and providing air transport to Indian citizens in line with the dream of a 'New India'. He continued: "The lobbying for discriminating policies between old and new airline is reminiscent of the protectionist and monopolistic pressures by vested interests' entities who seem to fear competition, as in a variety of other sectors over the years." He noted that such protectionist moves have "held back progress in India". He also called for a new open market economy in India, stating it would "promote growth in an open market based on competitiveness and not from self-interested based protectionism". He also applauded the Minister of Civil Aviation and Ministry for considering the removal of the 5/20 rule. He said: "One hopes when the new policy is introduced it will be free of discrimination and protectionism, so that Indian aviation can grow for the benefit of consumer and the common man - and not to serve the interests of select beneficiaries of protectionism". [more - original PR]

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