In order to shore up interest in the privatisation of state-owned Air India, non-resident Indians (NRIs) who are citizens of India, have been allowed to own 100 per cent stake in the airline. The small tweak has now brought foreign investment rules in Air India on a par with other private carriers.
This has been termed a landmark decision by Union minister Prakash Javadekar. He said the move will increase the opportunity for gaining investment for the airline.
“NRIs, who are Indian nationals, will get permission to invest in Air India. This will pave the way for fresh investments. Passengers will continue to get better services and it will also improve the business environment,” said Javadekar.
