India Allows Overseas Airlines to Enter Aviation Industry

India Allows Overseas Airlines to Enter Aviation Industry

The proposals to allow foreign investors to enter retail and aviation industries of India had been held last year, a recent report has uncovered. And following bids by a newly assertive government that a stalled agenda as well as a crisis period over the slowing economy would be eluded soon, the nation has now threw open all these industries for them.

As per the findings, alliance partners had frightened to revolt the previous year after the biggest policy push of Manmohan Singh, the Indian Prime Minister, received the proposals. But, the plans have now come into force as it is being believed that the same would help in changing the view people have about the government.

Commerce Minister Anand Sharma has informed that 49% of Indian carriers would from now on be allowed to be owned by overseas airlines. It is being said that the PM has just 18 months to go to gain back the support, which is currently on decline. Also, the whole ruling Congress party has this short time before the next general election to earn confidence in their economic management.

Standard Chartered Plc’s economist from Mumbai is of the opinion, “If this changes the perception that investors have about India, this could be positive for inflows, equities and for the currency”.


FrenchTribune Specials

IPCC’s Projected Sea Level Rise may already be outdated, says NASA

As per NASA, the projections made by the Intergovernmental Panel on Climate Change on a rise in global sea levels of 1 to 3 feet have already become a thing of past. Experts said that humans are locked into at least 3 feet of sea level rise and even more is also possible.

Steven Nerem of the University of Colorado said that most of the...

Most Popular

Air Pollution Causes an Estimated 1.6 Million Deaths in China Every Year

A recent study published in Nature Geoscience revealed...

A Baby Planet has been discovered in another Solar System

According to reports, astronomers have captured an image...

Nasa's Curiosity rover takes a 360 degree selfie on MARS

The Curiosity rover, sent by American space agency NASA...

Rare dinosaur footprints found in Lower Saxony in Germany

A team of scientists from Germany have found a long...

Poll

Can Greece Come out of Economic Problems: