Singapore Airlines says options open on Air India disinvestment

Existing rules allow foreign airlines to own as much as 49% in private Indian airlines but not in Air India

India allows 100% FDI in single-brand retail, but investment beyond 49% requires prior government approval. He said in a statement that the CAIT would soon declare a nationwide strategy to oppose the "brutal move" by the government.

The cabinet has also allowed 100% FDI in real estate broking services by clarifying that it does not amount to real estate business.

Until now, FDI up to 49 per cent in single brand retail was permitted under automatic route, and beyond that limit, government approval was needed.

While allowing foreign airlines to have stake in Air India, the government has also made it clear that the national carrier's substantial ownership would remain with Indian nationals.

In a statement issued after the Cabinet decisions, the party said, "The politburo of the CPI (M) also strongly opposes the decision to allow foreign airlines to invest up to 49 per cent in Air India".

Under the new rules, for the first five years of their operations, SBRT entities would be allowed to set off their "incremental sourcing of goods" from India for global operations against the mandatory 30% local sourcing requirement.

The government has also chose to allow relax the local sourcing norms for foreign entities engaging in SBRT in India. For additional investment, they were required to obtain government approval.

Packers to name ex-Browns coach Mike Pettine defensive coordinator
Pettine eventually worked his way up to become a defensive assistant, and later an outside linebackers coach in Baltimore. The Packers are set to hire Mike Pettine as their defensive coordinator, reports ESPN's Adam Schefter.

The Union Cabinet on 28 June 2017 gave an "in-principle" go-ahead for the strategic disinvestment of debt-ridden Air India after tasking a Group of Ministers to work out its modalities.

Overseas investment policy has also been liberalised in case of power exchanges, an online platform where electricity is traded.

Making changes in the sector relating to power exchanges, the government removed the restrictions on investment by foreign institute investors and portfolio investors to invest in power exchanges through primary market as well.

Sharma, a former Union Commerce and Industry minister, said the move was a "U-turn".

For this goal, it said, incremental sourcing would mean the increase in terms of value of such global sourcing from India for that single brand (in Indian rupee terms) in a particular financial year over the preceding financial year, by the non-resident entities undertaking single brand retail trading entity, either directly or through their group companies. "This will liberalise and simplify the FDI policy and provide ease of doing business in the country.#ReformsInFDIpolicy #FDIpolicyForNewIndia". This is the second round of FDI reform that the Modi government has unleashed.

"The PM should now accept that they are following previous policies only", he said. "I don't think it's going to make much change because nearly all the major brands of the world are already here as 100 percent FDI was already allowed". After the amendments, no government approval is required for 100 per cent investment.

This is unedited, unformatted feed from the Press Trust of India wire.

Related News:

  • HP recalls Notebook computer and mobile workstations batteries

    HP recalls Notebook computer and mobile workstations batteries

    This is not the first time that HP has been forced to issue a laptop recall over safety concerns surrounding their batteries. Until receiving a replacement, customers will simply need to connect their laptop to a power adaptor to use it.
    How to follow Chelsea vs Arsenal in India

    How to follow Chelsea vs Arsenal in India

    Chelsea and Arsenal have played an uninspiring goalless draw in the first-leg of their Carabao Cup semi-final on Wednesday night. After Norwich it's the second 0-0 in a row, we have to reflect on that and improve in the training sessions.
    7.6-magnitude natural disaster  strikes off the coast of Honduras

    7.6-magnitude natural disaster strikes off the coast of Honduras

    "Amazing trip to #Cancun ended last night with our condo shaking like insane as a result of an quake off the coast of Honduras". The reports that the 7.6 magnitude makes this one of the most powerful earthquakes to hit the Caribbean in modern day history.
  • Where To Watch 'Big Little Lies,' 'Handmaid's Tale' And More — Golden Globes

    Where To Watch 'Big Little Lies,' 'Handmaid's Tale' And More — Golden Globes

    Nicole Kidman has 4 children and this is the Second Time she has made reference at a win to her two daughters", a viewer tweeted . The veteran concluded her speech with the following message of gratitude to her co-stars, colleagues and loved ones 'Bless you.
    Uproar in Hollywood over Williams-Wahlberg pay gap

    Uproar in Hollywood over Williams-Wahlberg pay gap

    Williams previously told USA Today she appreciated efforts to reshoot the film, which recounts the kidnapping of oil tycoon J. Scott said he and Williams refused to get paid and that he only needed to pay Plummer and the crew.
    Attempt to kill spider starts house fire in Northern California

    Attempt to kill spider starts house fire in Northern California

    Firefighters in Redding were called to a home in here someone had used a large torch lighter to fight back against a spider. Lyndsey Wisegarver, who is the care giver for one of the men who lives in the building, said it was a "huge wolf spider ".
  • Is Akash Dadlani out of Bigg Boss?

    Is Akash Dadlani out of Bigg Boss?

    When Vikas starts waxing, Shilpa and the others start complaining that it doesn't look mean but Vikas eventually wins the task. While Hina and Shilpa are two of the most popular contestants, Vikas is also a tough contender, and has a good fan base.
    TCL 6-series Roku TV promises great picture for a low price

    TCL 6-series Roku TV promises great picture for a low price

    We recently learned that streaming company Roku is looking to branch out from TVs, and transition to smart assistants and systems. The new TCL 6-Series is an upgrade to the TCL's past year highly successful P series.
    Couple captured in murder of 4-year-old Sumpter Township girl

    Couple captured in murder of 4-year-old Sumpter Township girl

    Leah Barrett said her family is heartbroken over the loss, but feels better knowing Diaz and Fields have been found and arrested. According to police, Diaz's 4-year-old daughter, Gabby, was found dead in a mobile home in Sumpter Township last week.
  • Olympia Ohanian Is Already Breaking Records As Vogue's Youngest Cover Star

    Olympia Ohanian Is Already Breaking Records As Vogue's Youngest Cover Star

    No one talks about the low moments-the pressure you feel, the incredible letdown every time you hear the baby cry", she said . Williams told the magazine that the first couple of months of motherhood have tested her in ways she never imagined.
    Hero Confronts and Slaps Filthy Swine Harvey Weinstein at a Restuarant! Video!

    Hero Confronts and Slaps Filthy Swine Harvey Weinstein at a Restuarant! Video!

    More than 50 women have come forward and accused Weinstein of sexual assault that began #MeToo movement. Weinstein is under investigation by authorities in New York, Los Angeles, Beverly Hills and London.
    Sen Feinstein Release of Fusion GPS Testimony Disgrace, Possibly Illegal

    Sen Feinstein Release of Fusion GPS Testimony Disgrace, Possibly Illegal

    Dianne Feinstein is learning what it's like to be on the receiving end of President Trump's fury. Sheldon Whitehouse and Richard Blumenthal sent a letter to Republican Sen.


Most liked

First Assassin's Creed Origins Expansion Comes Out Later This Month
Once that's over, players will be able to take on the devious Sobek from January 23 to January 30. The update will also allow Bayek to sell outfits at Weaver shops, and add one free quest.

Facebook pulls the plug on its virtual assistant 'M'
Facebook's virtual assistant was pretty unique compared to the rest of the digital assistants on the market. AdNews received access to M for a few weeks past year and found its restaurant suggestions helpful.

Supreme Court modifies 2016 order, says National Anthem not mandatory in theatres
While few theatre owners say they will discontinue playing national anthem, others say they will play national song Vande Mataram. The bench had further stated that an Indian doesn't need to wear his patriotism on his sleeves.

Declared dead, man comes back to life on autopsy table
Telecinco report that it is believed that a case of catalepsy is responsible for the man almost being killed by the coroner. Despite signs to revive him, he was declared dead. "Quite the opposite", reported El Espanol .

New Toyota-Mazda factory to be built in Alabama
Their decision to locate this new facility in Huntsville is a testament to the talented workforce in our state. The person didn't want to be identified because the decision hasn't been made public.

Seahawks fire former Badger QB Bevell, Cable
Head coach Pete Carroll tried to take the heat for the call, but much of the blame was still put on Bevell's shoulders. And we hear from players and coaches leading up to the start of our coverage. "Truth is (Bevell) is not the problem".

OJ Simpson shuts down those reports that he's Khloe Kardashian's real dad
In 2012 she told " Good Morning America ", "It just gets weirder and weirder: I have never heard such crap in my life". Simpson was granted parole in July 2017, and he was officially released in October 2017.

Pokémon Go will drop support for some Apple devices next month
The iPad 4th gen, iPad 3rd gen, iPad mini 1st gen, and iPad 2 (2011) will no longer be able to play the game after this update . Currently Ex-Raid's are the only way for players to fight and capture Legendary Raid Boss Mewtwo.

Pirates Agree To Trade Gerrit Cole To Astros
The Houston Astros have agreed to a deal for Pittsburgh Pirates ace Gerrit Cole , according to Jon Morosi of MLB Network . In five years with the Pirates, Cole has a 59-42 record with a 3.50 ERA, averaging 156 innings a season in 127 starts.

Flu season hits early, hard in Texas
There have been 3,854 total flu-associated hospitalizations in OH since flu season began last October, according to ODH. If you experience flu-like symptoms, stay home 24-48 hours after symptoms resolve, unless you are seeking medical care.

Study Reveals Surprising Consequences Of Trying A Single Cigarette
In 2016, 15.5% of the adults from the United Kingdom smoked, down from 19.9% in 2010, according to the office for National Statistics.

Calvin Ridley and Da'Ron Payne entering NFL Draft
I am so grateful and so blessed to have been a part of a MIGHTY ROLLING TIDE, THAT WILL KEEP ON ROLLING AND ROLLING FOREVER. I must take a moment to express my heartfelt appreciation to my family for all of their support through the years.

Rakesh Roshan announces next film in Krrish series on son Hrithik's birthday
However, while both films saw Hrithik in an anti-hero role, the layers of his performance is different in each of the two films. However, Hrithik Roshan received a surprise birthday wish from none other than Malayalam superstar Mohanlal.

National Weather Service says flooding is possible Friday into Saturday
It also will be breezy, with a north northwest wind of 13 to 22 miles per hour , gusting as high as 31 miles per hour . SUNDAY: Mostly cloudy skies and snow flurries will be possible, with a frigid high temperature of 23 degrees.

Lena Dunham, Jack Antonoff split after five years of dating
It was only a few months ago in October when Dunham wrote lovingly of Antonoff on Variety , saying he taught her the importance of making political statements, among other things.