FDI hoped raised again in India

Victoria
By Victoria September 19, 2012 10:46

FDI hoped raised again in India

Indian Prime Minister Manmohan Singh is meeting ministers today to discuss allowances for investment by foreign airlines in the aviation sector.
Under the FDI proposal, foreign airlines will be allowed to own stakes in Indian carriers up to 49%. Although a 49% stake gives the investors minority shareholder control, they will get the right to block a special resolution.

The revises proposals states that the chairman and two-thirds of the board of any domestic airline receiving FDI will need to be Indians, and substantial ownership and control will remain with Indian nationals. All foreign nationals participating in the venture will also need security clearance and equipment imports will have to be vetted by the aviation ministry.

Victoria
By Victoria September 19, 2012 10:46
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