New Delhi: Relaxed FDI norms will ensure increased competition in the "huge" domestic aviation sector but foreign airlines will never be allowed to fully own a domestic carrier, a top government official said today.
In a significant reform measure aimed at bolstering the country's high growth potential civil aviation sector, the government has allowed foreign entities, except overseas carriers, to own up to 100 per cent stake in local airlines.
Besides, 100 per cent Foreign Direct Investment (FDI) has been permitted through the automatic route in brownfield airports.
"There will be more and more competition (in aviation sector). That is the signal that is going out," Civil Aviation Secretary R N Choubey told PTI about the relaxed FDI norms and their long-term impact.
22/06/16 PTI/Economic Times
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In a significant reform measure aimed at bolstering the country's high growth potential civil aviation sector, the government has allowed foreign entities, except overseas carriers, to own up to 100 per cent stake in local airlines.
Besides, 100 per cent Foreign Direct Investment (FDI) has been permitted through the automatic route in brownfield airports.
"There will be more and more competition (in aviation sector). That is the signal that is going out," Civil Aviation Secretary R N Choubey told PTI about the relaxed FDI norms and their long-term impact.
22/06/16 PTI/Economic Times
