Air India privatisation reflects govt resolve to bite reform bullet: CII

The Confederation of Indian Industry on Monday said privatisation of national carrier Air India sends out a clear message to the markets and global investors that the Centre has the political will to bite the reform bullet.

The chamber said the time was right to expedite disinvestment efforts in the banking space, with privatisation of identified two public sector banks.

Air India’s successful sell-off, albeit after multiple efforts, will infuse a fresh vigour to the ambitious plan of disinvestment and privatisation of public sector enterprises,” CII Director General Chandrajit Banerjee said.

He stated that it will help embolden confidence in government’s capacity to close transactions and thus encourage bidding in future sales.