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

Republicans attack Obama’s climate-change agenda before summit

Republicans in the US Congress have launched an attack on President Barack Obama’s climate-change agenda ahead of the crucial global summit in Paris.

The Republican congressmen are aiming to attack and make his position weak before the summit.
They are targeting new rules aimed at cutting carbon emissions from power plants. They...

Most Popular

Gene found that makes bacteria resistant to last-resort antibiotics

Scientists were shocked to find a gene that makes common...

Researchers say early prostate cancer detection has dropped due to lack of scree

According to two studies published on Tuesday in The...

Inertial force plays an important role in bat flight

When compared to birds and insects, bats have extremely...


Can Greece Come out of Economic Problems: