Tag Archives: Narendra Modi

Cabinet approves 49% FDI in Air India

The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to a number of amendments in the FDI Policy -one of them allowing foreign airlines to invest up to 49 per cent under approval route in Air India. These are intended to simplify the FDI policy to provide ease of doing business in the country. As per the extant policy, foreign airlines are allowed to invest under Government approval route in the capital of Indian companies operating scheduled and non-scheduled air transport services, up to the limit of 49 per cent of their paid-up capital. However, this provision was presently not applicable to Air India, thereby implying that foreign airlines could not invest in Air India. Foreign airlines can now invest up to 49 per cent under approval route in Air India subject to the conditions that foreign investment(s) in Air India including that of foreign airline(s) shall not exceed 49 per cent either directly or indirectly. Substantial ownership and effective control of Air India shall continue to be vested in Indian National.

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Israel offers 5-year multiple entry business visa for Indians

Israel is going to offer five-year multiple entry visa for Indian businessmen. The move is to improve the bilateral trade between the two countries, especially with the scheduled visit of Prime Minister Narendra Modi to Israel, tentatively in July this year. Visa has been a major point of discussion between the two countries for many years. The easing of business visa might be followed by easing of visa process for Indian tour groups as well. According to Amir Halevi, Director General of Israel Tourism, the country is planning to ease visa norms for Indians thinking of visiting Israel. An embassy statement quoting Ambassador Daniel Carmon said the initiative was part of the growing partnership between India and Israel.

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India, Singapore to sign civil aviation MoU

The Union Cabinet has approved a Memorandum of Understanding (MoU) between India and Singapore in order to improve cooperation in the field of civil aviation. A recent statement released by the cabinet, said, “The Union Cabinet, headed by the Prime Minister, Narendra Modi, has given its ex-post facto approval for signing a (MoU), which was signed in November 2015 between Airports Authority of India (AAI) and Singapore Cooperation Enterprise in Civil Aviation during Modi’s visit to Singapore. The objective of this MoU is to establish mutual cooperation in the field of civil aviation, which will cover, to begin with, the airports of Jaipur and Ahmedabad. This cooperation will be extended to other airports with mutual consent.” The salient features of the MoU include collaboration in Civil Aviation Sector in the areas of Master-planning and design, traffic development, commercial development, service quality improvement, training and development, cargo handling and management, maintenance, repair and overhaul, operation and management and any other areas with mutual consent. To ensure high standards of service at Ahmedabad and Jaipur airports, AAI may enter into operation and maintenance (O&M) contracts, either with or without the responsibility of maximisation of non-aeronautical revenue in the terminal building (excluding land on city side and air side). The city side and airside will continue to be managed directly by AAI. Globally, limited O&M contract models are prevalent for the entire airport operations. AAI has no previous experience in awarding O&M contract model of terminal buildings to other entities. In order to implement the decision, it was necessary to ensure that a suitable entity be engaged for undertaking the O&M contract at Ahmedabad and Jaipur airports.

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