FDI approval inches closer in India

Victoria
By Victoria April 10, 2012 13:07

FDI approval inches closer in India

The Department of Industrial Policy and Promotion (DIPP) has circulated a Cabinet note for 49% foreign direct investment (FDI) by foreign airlines in domestic carriers that seeks comments from concerned ministries by tonight.

The DIPP says the 49% FDI will help to bring in foreign investment that will strengthen the airline sector.

The Group of Ministers on aviation has already cleared the proposal on February 7 but require Cabinet approval before it can be implemented.

Victoria
By Victoria April 10, 2012 13:07
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