Hyderabad: India should go for 100% FDI in airlines sector to realise the full potential of the country’s aviation industry, a joint report of FICCI-KPMG has suggested.
The report was released yesterday at the ongoing India Aviation show 2016 here. Noting the rapid growth that Indian civil aviation sector has been witnessing over the past few years, the report pitched for open sky policy and urged the government to finalise the civil aviation policy at the earliest to resolve the vexed issue of international flying norms for local carriers.
At present, government allows up to 49% investment by a foreign airline in an Indian carrier. However, it has proposed to hike it to over 50% in the draft policy unveiled in October last year.
“For super-charging growth in the aviation sector, urgent remedial measures are required. India needs to be promoted as a trade and tourism hub in order to derive synergistic benefits for the aviation industry. Leading aviation hubs like the US, EU, UAE, Singapore and China have a robust industrial, trading, maritime and tourism ecosystem that both supports and benefits from their aviation sector,” the report said and called for close collaboration between Ministry of Civil Aviation and related ministries.
To Read the News in Full 18/03/16 Tribune India
The report was released yesterday at the ongoing India Aviation show 2016 here. Noting the rapid growth that Indian civil aviation sector has been witnessing over the past few years, the report pitched for open sky policy and urged the government to finalise the civil aviation policy at the earliest to resolve the vexed issue of international flying norms for local carriers.
At present, government allows up to 49% investment by a foreign airline in an Indian carrier. However, it has proposed to hike it to over 50% in the draft policy unveiled in October last year.
“For super-charging growth in the aviation sector, urgent remedial measures are required. India needs to be promoted as a trade and tourism hub in order to derive synergistic benefits for the aviation industry. Leading aviation hubs like the US, EU, UAE, Singapore and China have a robust industrial, trading, maritime and tourism ecosystem that both supports and benefits from their aviation sector,” the report said and called for close collaboration between Ministry of Civil Aviation and related ministries.
To Read the News in Full 18/03/16 Tribune India
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