FDI IN INDIAN CARRIERS MAY TAKE A MONTH
Image : The French Tribune.
New Delhi,India : Airlines getting FDI must have Indians as CEO.It may take at least a month to implement the government’s policy to allow investments by foreign airlines in Indian carriers.
Officials in the Civil Aviation Ministry told Deccan Herald on Saturday that they were expecting the minutes of Friday’s meeting of the Cabinet Committee on Economic Affairs, which approved 49 per cent FDI in Indian carriers, by next week. The ministry will then frame the rules, which will have to be approved by the Law and Finance ministries.
According to the approved policy, the airlines getting foreign funding will be required have Indian citizens as CEO and MD while three-fourth of the directors should be Indians.
16/09/2012 : Deccan Herald.
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