For Quick Alerts
For Daily Alerts

Government ready to tweak FDI norms in aviation: Finance Minister P. Chidambaram

By Religare

Finance Minister P. Chidambaram has said that the government is ready to tweak FDI norms in the aviation sector if there are "willing buyers and willing sellers".

According to the reports, Chidambaram said, "What is there to tweak, we have allowed 49 per cent. Let us see whether there are potential investors. These are executive decisions, they can always be tweaked."

India announced 49 per cent FDI in aviation in September which allowed an investor to pick up stake of up to 49 per cent of paid-up capital in domestic airlines. However, the response hasn't been good enough.


"See, merely because you raise it (the 49 per cent limit) to 51 per cent does not mean somebody is going to come. There may be a willing buyer, there has to be a willing seller also. The Indian company must be willing to yield control. And (there is) no evidence of that. There are only half a dozen players in the sector," Chidambaram said.

Story first published: Monday, November 19, 2012, 10:30 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more