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FDI overhaul soon

FDI overhaul soon

The government plans to quickly open up the services segment of the aviation business. As part of the FDI policy review, it plans to allow 100 per cent FDI in the maintenance, repair and overhaul (MRO) business, where companies like Boeing and Airbus have shown keen interest.

The government plans to quickly open up the services segment of the aviation business. As part of the FDI policy review, it plans to allow 100 per cent FDI in the maintenance, repair and overhaul (MRO) business, where companies like Boeing and Airbus have shown keen interest.

Commerce Minister Kamal Nath hopes to take the proposal to the Cabinet shortly.

As part of the policy overhaul, the government also plans to drop the norm that makes it mandatory for foreign oil marketing companies to divest 26 per cent of their equity over a five-year period. Companies like global gas major BG, which is in the gas marketing business, will benefit from this provision. While the Commerce Minister has been attempting to push through the revised FDI norms over the last few months, it remains to be seen if this time around, he can.

Published on: Oct 16, 2007, 8:38 PM IST
Posted by: AtMigration, Oct 16, 2007, 8:38 PM IST