PMO seeks clarification on Jet-Etihad deal

Discussion in 'Economy & Infrastructure' started by Ray, Jul 2, 2013.

  1. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    PMO seeks clarification on Jet-Etihad deal

    The Prime Minister’s Office has sought clarifications from Ministries concerned, including Commerce and Industry, on the proposed Rs. 2,058 crore Jet-Etihad deal.

    The deal, largest foreign investment proposal in the aviation sector, is facing regulatory hurdles with various ministries raising major concerns over the ultimate control of Jet Airways post transaction.

    Government sources said the Prime Minister’s Office (PMO) has sought clarifications on the Jet Airways selling stake to Abu Dhabi-based Etihad Airways from ministries and departments concerned including Commerce and Industry, Civil Aviation and Corporate Affairs. However, nature of the clarifications sought could not be immediately ascertained.

    The Foreign Investment Promotion Board (FIPB), which clears FDI proposals, on June 14 had deferred a decision on the deal citing control and ownership issues.

    “It (Jet-Etihad proposal) has been deferred. We need more details on effective control and ownership,” Economic Affairs Secretary Arvind Mayaram had said.

    Under the proposed transaction, Jet would sell its 24 per cent to Etihad Airways. Concerns have been primarily raised on the proposed ownership and control structure of the domestic airlines.

    Besides, capital market regulator Sebi, fair trade watchdog CCI and Department of Industrial Policy and Promotion (DIPP) have reservations about the deal.

    Post transaction, Jet Airways promoter Naresh Goyal would directly own 51 per cent in the airline.

    The FDI policy for civil aviation, which was revised in September last year, allows foreign airlines and foreign institutional investors to invest up to 49 per cent in an Indian airline. NRIs are already allowed 100 per cent investment.

    Recently, Janata Party President Subramanian Swamy had written to Prime Minister Manmohan Singh raising concerns about the Jet-Etihad deal.

    Keywords: Prime Minister's Office, FIPB, Jet-Etihad deal, Arvind Mayaram, Indian aviation sector

    PMO seeks clarification on Jet-Etihad deal - The Hindu

    *******************************************************************
     
  2.  
  3. sob

    sob Moderator Moderator

    Joined:
    May 4, 2009
    Messages:
    6,359
    Likes Received:
    3,661
    Location:
    New Delhi
    On one hand the Government wants to push in FDI and on the other hand these shenanigans are doing the rounds. This deal is being dragged through now for months. If there was any problem then the Government should come out in the open with their concerns rather than allow various ministries to be used for corporate warfare.

    This is sending a very negative image about the investment climate in the country.
     
  4. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    Just Loved to see Ignoramus Sanjay Jha the Congress Spokesman put in his place by Subramaniam Swamy and TSR Subramaniam on a TV Debate

    I have wisened over the years that it’s pointless to get agitated or angry at people whose arguments in Debates on Issues of National Concern are simply mere apologies that are not rational or logical in substance ~ but when your senses are repeatedly assaulted by idiots what do you do !?

    Just Loved it ! ~the nonentity,revolting,obnoxious, ignoramus and as always completely clueless,but highly opinionated on all matters under the Sun ! Sanjay Jha, who from owning and covering Cricket on his website is now a Congress Spokesman,being ridiculed and taunted and literally put in his place by Subramanium Swamy of the Janata Party and T S R Subramaniam,former Cabinet Secretary on the Controversial Jet-Etihad Deal that the PMO now finds worrying ~ the debate was on Times Now and anchored by Arnab Goswami

    T S R Subramaniam simply shooed Jha off ! saying he will not stoop to the level of even questioning Sanjay Jha’s abilities,wisdom,comprehension ,intelligence or understanding !

    This poor guy,Jha, does not even realise he’s being used by the Congress ! ~ probably in the false notion that like Spokesmen before him he too may be rewarded by being kicked up and made a Minister ultimately ! ~ the guy’s lame every time he features on a TV Debate ~ Congress seems to have run out of Caliber and Articulate and Respected Spokemen to represent and explain and defend their stand and views and actions on Public Platforms and the Media Channels ~ probably a job no one wants ! what with huge corruption scams falling out of the UPA cupboard everyday in virtually every Ministry ~ Telecom,Irrigation,Defence,NHAI,Banking,Coal,Aviation…
    ….

    The PMO is clearly worried ~after having been drawn into the 2G Controversy and seen it’s Officers questioned by the CBI on the Coalgate Allocations ~ both issues highlighted strongly by CAG as causing a huge loss of thousands of crores to the exchequer and involved favouritism and nepotism in granting licenses and allocating mines

    And so ,despite this Jet-Etihad Deal being pushed and passed by the Aviation,Commerce,Finance and External Ministries despite their objections that were conveniently sidelined and overlooked and not explained,the PMO has now issued a u-turn letter expressing serious concern over this deal ~ National Security will be compromised ~the hub moves away to Abu Dhabi ~ Air India traffic will lessen as 37000 seats have been given away to Etihad ~ the spanking new Delhi Airport which is the current hub will remain empty and may become a white elephant

    This is a Scam in process and the PMO’s U Turn is clearly reflecting this concern ~ so is the PM washing his hands off a deal that his own Government has agreed on !?

    Issues of who really owns Jet Airways are resurfacing strongly

    Jet Airways has always maintained that the Promoter,Mr Naresh Goyal owns 99.99% of Tailwinds,the Isle of Man Registered Company that owns Jet Airways ~ There has been suspicion that there was an underworld connection on the source of funding and in 2002 the NDA Government’s Home Ministry conveyed this to the Aviation Ministry ~ Jet Airways survived this ~ in 2007 a PIL was squashed even by the Supreme Court to initiate an investigation into this

    However the suspicion has never really gone away ~ and this Etihad Deal strengthens it

    So who really engineered the deal !?


    Clearly there’s more to it than on the face of it !

    …and poor Mr Jha simply parrots that the PM is being transparent and that FDI in Aviation is sorely needed ! ~ Someone should tell him,if he does at all open his Ears and shuts his Mouth,two mutually exclusive functions, that FDI in this case may just stand for Foreign Direct Interference

    Sanjay Jha put in his place by Swamy & TSR Subramaniam | Gaurav's Blog

    *****************************************************************

    I saw this debate.

    Time Now showed letters that were simply confusing and contradictory.

    It appeared that all four Ministers impressed the PM upon the urgency to get the deal through and then it appeared that they got cold feet and had a change of heart and washed off their hands.

    And Jha indeed made understanding the issue very difficult trotting out some unsupported, most disingenuous and lame defence.

    I just hope it is not another scam in the making.

    Maybe someone who has understood the debate or has an idea of the deal can throw some light and clear the fog.
     
  5. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    No favours to Jet-Etihad, deal as per FDI policy: Ajit Singh to NDTV

    A day after the foreign investment promotion board deferred a clearance to the Jet-Etihad deal, the civil aviation minister, in an exclusive interview to NDTV, denies that the government gave any special favours to Jet. He also rubbished allegations that the deal is a security threat.

    Details in the video with the link.

    ************************************



    If no favours shown or there is no security threat, then why is the deal being reconsidered and there is this U turn?

    NDTV has not asked in depth questions, but then NDTV has never been known to undertake any in depth analysis.

    Some argument against the deal in TimesNow

    The merged airlines will be operating from Abu Dhabi and not India. In short, it becomes a non Indian controlled airline.

    The new international airports made in India will be redundant as their aim of becoming a hub would be zero.

    The security risk is not Gulf countries, but instead, there is a belief within Intelligence agencies, that it is owned by a Don of the underground.

    Air India has spent a huge sum for new aircrafts but of Jet Etihad becomes the major carrier, then Air India becomes a lame duck.
     
    Last edited: Jul 2, 2013
  6. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    FinMin to decide on Jet-Etihad Airways deal, Telenor FDI plans on Tuesday

    New Delhi The Finance Ministry on Tuesday will take a call on the Rs 2,000 crore Jet-Etihad deal –the largest foreign investment in the Indian aviation sector – and the FDI proposal of Norway's Telenor, among others.

    The Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Arvind Mayaram, will also take up 28 other FDI proposals including that of Multi Commodity Exchange (MCX).

    While Jet Airways plans to sell 24 per cent stake to Abu Dhabi-based Etihad for about Rs 2,058 crore, Telenor is seeking government approval to hike stake by 25 per cent in its domestic subsidiary Telewings to 74 per cent.

    However, it could not be immediately ascertained the amount of FDI expected to come through the Telenor transaction.

    In March, FIPB had deferred decision on the proposal.

    Last week, Telenor Group President and CEO Jon Fredrik Baksaas met Commerce and Industry Minister Anand Sharma in Myanmar. Sharma had assured him that the pending investment issues would be expedited with the relevant authorities.

    Jet-Etihad deal assumes immense significance in the backdrop of the government looking to attract more foreign investments into the country. Also, the proposal comes after foreign carriers were allowed to pick up stakes in domestic airlines.

    In March, the FIPB had cleared the Rs 81 crore investment proposal of AirAsia to set up a JV airline company with Tata Sons and another partner.

    MCX (Multi Commodity Exchange of India) is seeking post facto approval for FDI received before issuance of Press Note 2 of 2008. The Press Note detailed guidelines of foreign investment in commodity exchanges.

    Other proposals on FIPB agenda include that of Alliance Insurance Brokers, Muthoot Finance Ltd and ICICI Venture Funds Management Company.

    FinMin to decide on Jet-Etihad Airways deal, Telenor FDI plans on Tuesday - Express India
     
  7. SPIEZ

    SPIEZ Senior Member Senior Member

    Joined:
    Sep 24, 2011
    Messages:
    3,507
    Likes Received:
    1,009
    What are the concerns about FDI in Avition? Is it because our MP's wont be allowed free rides in the future?
     
  8. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    Post 1 and 2 gives the reasons to some extent and those who saw the TimesNow debate would get a fair idea of what's up.

    I don't think that it has to do with free rides to the neta men.

    It is more to do with Jet becoming an Abu Dhabi airline with its HQ there and the aim behind the expansion and refurbishing Air India becoming a colossal waste of money along with the fact that the aim of upgrading our airports so that they become hubs being lost.
     
  9. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    Here are some reasons;

    Jet-Etihad deal: DIPP likely to expand definition of 'control'

    After the issue of effective control cropped up in the Jet-Etihad deal last week, the Department of Industrial Policy and Promotion (DIPP) is likely to move a Cabinet note to address it by clubbing the definition of ‘effective control’ and ‘control’.

    At present, ‘effective control’ has not been defined by the government. DIPP is likely to tweak the definition of ‘control’ — ‘effective control’, too, would mean the same — as resting with the one that has the right to appoint a majority of directors and influence major policy decisions on the board of a company. At present, according to the foreign direct investment (FDI) policy, ‘control’ rests with the one who has the power to appoint a majority of directors in a company.

    “The word ‘effective’ has been used in the policy as an adjective. In the new definition, ‘control’ and ‘effective control’ would mean the same. So, there is no need to define it separately at the moment. After the Cabinet approval, the Reserve Bank of India (RBI) will notify the relevant press notes for the purpose," said a finance ministry official asking not to be named.

    A decision on the Jet-Etihad deal was deferred by the Foreign Investment Promotion Board (FIPB) last week, as the government wanted more details of effective control and ownership. The decision came after the Securities and Exchange Board of India, the corporate affairs ministry and DIPP raised concerns on substantial management rights going to Etihad under the agreement.

    The FDI policy says approval can be granted to an airline that is registered and has its principle place of business in India; the chairman and at least two-thirds of the directors of which are citizens of India; and the substantial ownership and effective control of which is vested in Indian nationals.

    Officials said though Etihad had picked only a 24 per cent stake in Jet, its say in the management would be equal to that of Jet. They said the shareholder agreement between Jet and Etihad had been worked out in a way that the Abu Dhabi-based carrier got a substantial role in decision making. The new definition of control is likely to take care of all these issues and Jet might have to rework its deal with Etihad.

    Some of the rights proposed to Etihad include appointment of three nominee/investor directors, appointment of one of its nominee directors as vice-chairman of the 14-member board, the authority to appoint one of the joint auditors, and at least one of its nominee directors in each of the board committees.

    The government has capped FDI in aviation at 49 per cent so that the management control remains with Indians. In the highest foreign investment in the Indian aviation sector since September 2012 (when the government relaxed FDI norms), Abu Dhabi-based Etihad had in April this year agreed to pick up a 24 per cent equity stake in Jet for $370 million (Rs 2,058 crore).

    A QUESTION OF CONTROL

    The issue

    The FDI policy talks about ‘effective control’ but does not define it; only control has been defined The implication

    The Jet-Etihad deal was deferred as the govt sought details of effective control and ownership The solution

    The definition of ‘control’ will be changed in a way that it and ‘effective control’ mean the same The existing definition Control rests with the one who has the power to appoint a majority of directors The new definition

    Control is the right to appoint a majority of directors and influence major policy decisions

    Jet-Etihad deal: DIPP likely to expand definition of 'control' - The Smart Investor

    ***********************************************

    Fall-out of Jet-Etihad deal

    There can be many implications for the aviation industry in India and around the world after the signing of the Jet Airways-Etihad deal. A run down:

    1. Main fall-out is that the number of seats available on international routes will go up manifold. This is because jet will fly passengers from many Indian towns to Abu Dhabi and from them Etihad will fly them. This will be on a single ticket and probably lesser rates than what is offered by other international airlines.Beneficial for travellers initially.



    2. Other Airlines from India will also get additional sets to fly passengers from Abu Dhabi to Indian cities but may not be able to take advantage of it because of Jet Etihad domination and also due to shortage of aircraft and flights

    3. India's major international airports Mumbai and Delhi will take a hit because of availability of more flights from other Tier II and III cities. Though Etihad cannot fly to all such cities, Jet will do the job.

    4.Other Indian airlines cannot take advantage because they have no such tie up, though they have code-sharing arrangements with other airlines. Most such airlines like Spice jet and Indigo will have to hunt for a strategic international partners or Jet will corner both national and international routes.

    5.Critics say that too many seats have been added in just one sector withouth any proper bilateral policy. Soon other internatioanl airlines also will have to give additional capacity in sectors of their preference. Indian stake holders like airlines and airport companies will be silent victims.

    6. Air Asia is coming in a new airline in alliance with Tata sons. While this company will be an Indian JV, they will have more strength in the lucrative south east asian routes. So basically the lucrative routes flanking India, the Gulf on one side and South East Asia on the other will be captured by non-Indian airlines.

    7. Indian market is now witnessing negative growth. But this is where the increase in traffic will eventually come from. Hence the scramble to set up capacities for Indian international travellers.

    8. Jet has 25 per cent of the domestic market share second to Indigo which has 27 per cent and Air India's 20.7 per cent. After the Etihad deal Jet is well positioned to increase its market share and top in domestic sector too.

    9. Initially , say for the first six months of the Jet- Etihad operations, travellers will benefit, especially from the lucrative Gulf sector. Air India will be the worst sufferer here too. Then the rates are likley to go up.

    10. Amid all this Air India wears an orphaned look unable to hook up with other airlines, fully dependent on government largess, slack management, lack of funds and bad marketing. Dreamliner was doing well till it was grounded for battery checks. Once it resumes, Air India's long haul routes will benefit.

    Fall-out of Jet-Etihad deal - Economy - National - News X
     
  10. TrueSpirit

    TrueSpirit Senior Member Senior Member

    Joined:
    Jun 17, 2009
    Messages:
    1,891
    Likes Received:
    824
    Location:
    Forget It....Trace my IP if you can
    The concerns of Intelligence agencies are completely valid.

    However, the lumbering Air-India which is already on artificial life-support system, owing to its mismanagement should be systemically divested & proceeds be used for betterment of our aviation + shipping infrastructure.
     
  11. hit&run

    hit&run Elite Member Elite Member

    Joined:
    May 29, 2009
    Messages:
    5,493
    Likes Received:
    4,670
    Sanjay Jha is a troll, at NDTV studios he troll with impunity and at Times Now he saves his face with lame defenses and nitpicking.
     
    Last edited: Jul 2, 2013
    TrueSpirit likes this.
  12. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    Yes, he is not a troll, he and that chap Poonawala gets your goat.

    Interestingly, today, Jha dot com was seen only on the 'safe' NDTV channel.

    Elsewhere, his mug was missing!

    Poor chap he thinks this is the way to a Ministerial berth a la Renuka C, Manish T and Ambika S.
     
    Last edited: Jul 2, 2013
    hit&run likes this.
  13. Sakal Gharelu Ustad

    Sakal Gharelu Ustad Detests Jholawalas Moderator

    Joined:
    Apr 28, 2012
    Messages:
    6,678
    Likes Received:
    6,658
    How will Indian airports become hub? They do not fall on any important routes.
     
  14. hit&run

    hit&run Elite Member Elite Member

    Joined:
    May 29, 2009
    Messages:
    5,493
    Likes Received:
    4,670
  15. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    The interesting part is the FDI is aimed at getting money into India and not out of India.

    Jet Ethihad deal will ensure that under the Aviation FDI policy, the money shall go out of India and into Abu Dhabi!
     
    TrueSpirit likes this.
  16. TrueSpirit

    TrueSpirit Senior Member Senior Member

    Joined:
    Jun 17, 2009
    Messages:
    1,891
    Likes Received:
    824
    Location:
    Forget It....Trace my IP if you can
    Jet-Etihad deal: How UPA govt has perverted its FDI policy

    The controversy over the Jet-Etihad deal, into which Prime Minister Manmohan Singh made an intervention late on Tuesday, appears to be following a narrative that is disquietingly familiar to anyone who has been tracking the UPA government’s record of misgovernance – and corruption – by using policy opacity as a smokescreen to sell national resources on the cheap for private gain.

    The note from the Prime Minister’s Office on Tuesday, in which he denied that the deal was in any way tainted by wrongdoing or that the government was divided on the merits of the agreement, has done nothing to clear the air. In the main, it seemed intended to merely dispel media reports that suggested that the Prime Minister had learnt from his experience from both the 2G scam and the CoalGate scam, and would spike India’s bilateral air-service agreement with Abu Dhabi if it was seen to have steamrolled merely to sweeten the private deal between Jet Airways and Abu Dhabi’s national carrier Etihad.

    Even though there is as yet no evidence of corruption overhanging the latest instance, the parallels in the Jet-Etihad case and the 2G scam and the CoalGate are striking at other levels.

    In all three cases, a well-intentioned policy measure – FDI in civil aviation, allocation of coal blocks to ramp up power generation, and opening up the telecom sector – has been perverted by policy opacity and the exercise of discretionary powers to give away national resources on the cheap for private parties to reap a windfall.

    It is now manifestly clear that the bilateral air service agreement, as part of which Etihad benefits disproportionately – some would say in a game-changing fashion – by way of additional seats, was the sweetener that greased the tracks for the private Jet-Etihad deal, which effectively gives a down-and-out Jet Airways a fresh lease of life.

    Not every concession granted to private players gives cause for cavil. But in this particular case, it appears that the entire FDI-in-civil-aviation policy has been suborned to the fortunes of a private equity deal, from which one private airline benefits at the cost of others. And, in that process, the government has played fast and loose with what can broadly be called “national resources”. Where it should have allocated them in a transparent manner, and been governed by an elementary respect for some procedural norms, ad-hocism has prevailed, which imperils the success of the government’s FDI policy in the first place.

    Additionally, the government sought to airily dismiss the well-grounded misgivings of both the Inter-Ministerial Group and the entreaties of other players in the civil aviation space – until the political opposition took up the issue. Even if some of these objections – centred around national security concerns – are a trifle tenuous, the apprehension that the two deals (the bilateral air service agreement and the private equity Jet-Etihad deals) distort the marketplace dynamics and weight the playing field to the advantage of Etihad and Jet Airways is rather harder to dismiss.

    Particularly in the larger context of how the absence of a strategic civil aviation policy is playing out, this seems short-sighted in the extreme. On the one hand, the government is throwing good (public) money after bad to bail out Air India; on the other, it justifies “sweetheart deals” such as the one it has offered Jet and Etihad on the specious ground that the other airlines have to learn to cope with competition.

    It is no one’s case that Air India, which has been wilfully allowed to crashland by corruption and blind policymaking in the past, needs succour. Nor is the case for greater competition a flawed one. But as it did in the Coalgate scam and the 2G scam, the government is using the smokescreen of a well-intentioned policy to trasfer national resources to privileged private parties.

    In virtual every case, it is the opacity of policymaking, and the absence of clear rules, that has allowed this to happen. As former Cabinet Secretary TSR Subramanian observed on a CNN-IBN show late on Tuesday, the government’s FDI policy appears to be a case of “shoot first, aim later.” Rather than drawing up an FDI policy that establishes a level playing field for all players, the government has recklessly and in an ad hoc manner used the lubricant of a bilateral agreement to grease the tracks for one particular airline to profit from the FDI policy.

    Tomorrow, if another foreign airline similarly insists that it will invest under the FDI policy only if it secures a similar sweetner, will the government play along, he wonders. And if not, won’t it have the effect of choking off all other FDI in the civil aviation sector – merely because the government unjustly enriched one player – and toyed around with marketplace dynamics in a way that disadvantages other players?

    Manmohan Singh‘s rear-guard action to review the decisions in this case demonstrates only one thing: that he is wiser for his experience of having had his name dragged over the coals in both the CoalGate scam and the 2G scam. In both previous cases, he knew much mischief was afoot and yet looked the other way when national resources were being given away on the cheap. Wary that the same taint will now stick to him, particularly since he gave “in-principle” approval to the decision, he now wants to be seen to be taking the objections to the deals on board. This is more than a little disingenuous.

    But the UPA government’s larger failing is this: in virtually every case, it has taken a well-intentioned policy measure and perverted it with whimsical and reckless exercise of discretionary powers. In that respect, it has the inverse of a Midas touch. Whatever it touches turns to rust.

    http://www.firstpost.com/business/j...di-policy-923231.html?utm_source=MC_TOP_WIDGE
     
  17. Blackwater

    Blackwater Veteran Member Veteran Member

    Joined:
    Jan 9, 2012
    Messages:
    20,983
    Likes Received:
    11,810
    Location:
    Akhand Bharat
    kisi ko to baskh do. FDI ane do
     
  18. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    FDI is not coming.

    It is going!
     
  19. SPIEZ

    SPIEZ Senior Member Senior Member

    Joined:
    Sep 24, 2011
    Messages:
    3,507
    Likes Received:
    1,009
    This is an advantage to common man.

    A very good development oppurtunity for teir 2 cities. This will also lead to development of tier 2 cities.

    Welcome to modern business. Survival of the fittest.

    As such they have failed to capture the market. Here is a good chance to redeem themselves and make Indian aviation stand apart.

    Please let me know the disadvantage.


    Fare rates will increase anyways with the increase of fuel cost. But I don't think Jet-Ethihad would try to burn their fingers in an emerging market with loads of potential.

    [/quote]

    Correct me if I am wrong AI has always sufferred.
     
  20. Ray

    Ray The Chairman Defence Professionals Moderator

    Joined:
    Apr 17, 2009
    Messages:
    43,118
    Likes Received:
    23,543
    Location:
    Somewhere
    Short term relief to the common man maybe good for the average common man.

    But the flight of capital from the country will lead to overall burden to the common man.

    We should develop our own airport hub as all countries have done for themselves.
     
  21. SPIEZ

    SPIEZ Senior Member Senior Member

    Joined:
    Sep 24, 2011
    Messages:
    3,507
    Likes Received:
    1,009
    Something we have failed to for a VERY LONG TIME> Expect for Delhi's international airport, I don't see much of quality in any other airport.
    Now there is a situation where we MUST do it. I believe competition will bring the best results, so far we have remained stagnated. But now here is a true chance for redemption.

    Lest not we forget here is the same govt approving FDI in other sectors.

    Also many people were opposed to opening up of Indian markets, however have a look at the situation today.
     

Share This Page