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Union Cabinet approves 49% FDI in Air India by foreign carriers

Wednesday, January 10, 2018, 14:50 Hrs  [IST]
HBI Staff | New Delhi

In a decision with far-reaching consequences to Air India, the Union Cabinet has further liberalised the Foreign Direct Investment (FDI) cap in the national carrier, allowing 49 investment by foreign carriers through approval route.  Earlier, foreign carriers were allowed to invest up to the limit of 49% of the paid-up capital of Indian scheduled and non-scheduled carriers with prior approval of the government. But this facility was not available for Air India. With the new liberalised regime, the government has decided to do away with this restriction and allow foreign airlines to invest up to 49% under approval route in Air India.

However, Foreign investment(s) in Air India, including that of foreign airline(s) shall not exceed 49% either directly or indirectly, and substantial ownership and effective control of Air India shall continue to be vested in Indian National, the new rule says.

The Union Cabinet has also given the approval for 100% FDI under automatic route for single brand retailing in India.

 
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