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

Water contains dinosaurs’ urine: YouTube video

The water that we drink many times a day to quench out thirst actually contains dinosaurs' urine, according to a video posted by YouTube Channel Curious Minds. The video claims that every glass of water contains urine of the giant creature that roamed the world millions of years ago.

Next time you are drinking water you will surely...

Most Popular

Costly drugs lead to increased prescription drug spending

Experts have said that the spending on prescription...

Unescowarns that it is reconsidering heritage statusof Great Barrier Reef

UN cultural agency,Unescohas warned that it is...

US jobless claimants remained below 300,000 for 12th consecutive week

In a disclosure which hints at a robust labour market in...

First half of ejaculation is best for conception: study

First half of ejaculation is best for conception as it...

Poll

Can Greece Come out of Economic Problems: