Cabinet approves the FDI policy on Civil Aviation
Cabinet has approved to amend the extant Foreign Direct Investment (FDI) policy upto 100% by Non Resident Indians (NRIs) under automatic route in Scheduled Air Transport Service/Domestic Scheduled Passenger Airline. As per the present FDI Policy, 100% FDI is permitted – upto 49% in automatic and 49% beyond Government route. Further, FDI is subject to the condition that Substantial Ownership & Effective Control (SOEC) shall be vested in Indian Nationals as per aircraft rules, 1937.
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