Cabinet approves the Foreign Direct Investment policy on Civil Aviation

To permit foreign investment up to 100% by those NRIs, who are Indian Nationals, in case of M/s Air India Ltd., the Union Cabinet has approved to amend the extant FDI Policy to permit Foreign Investment (s) in M/s Air India Ltd by NRIs, who are Indian Nationals, upto to 100% under automatic route.

Daily Current Affairs Quiz 2020

FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The FDI policy is reviewed on an ongoing basis, with a view to attract larger volumes of foreign investment inflows into the country. Government has put in place an investor friendly policy on FDI, under which FDI up to 100% is permitted on the automatic route in most sectors/activities.