Aviation

Government notifies amended FDI policy on civil aviation

The government has notified changes in Foreign Direct Investment (FDI) norms on civil aviation, which will permit non-resident Indian nationals to own 100 per cent stake of Air India.

The gazette notification comes amid the ongoing process of strategic disinvestment of Air India.

Last month, the government for the third time extended the deadline to bid for Air India as the COVID-19 fallout has disrupted economic activities globally.

The deadline was extended by two months till August 31.

The divestment process for the national carrier was initiated on January 27.

“These rules may be called the Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2020,” the official notification dated July 27, 2020 said.

They shall come into force on the date of their publication in the Official Gazette, it said.

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Source
New Indian Express
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