CAPA to open up aviation sector

Mumbai, June 11 (UNI) The Centre for Asia Pacific Aviation (CAPA) today urged the government to relax the foreign direct investment norms in the aviation sector.

Stating that foreign carriers can not invest in India, CAPA Executive Chairman Peter Harbison said ''The traditional reluctance to admit foreign funds to local entities has led to under-investment in Indian companies''.

Mr Harbison was making a presentation at a two-day summit on investment and development opportunities in emerging markets organised by CAPA.

''Allowing foreign carriers would help an Indian carrier in accessing the international market and would provide them expertise and marketing strategy as well,'' he added.

'' CAPA also wants a favourable government policy paving the way for greater foreign investments in the Indian aviation sector.

Allowing higher levels of foreign investment in aviation sector in India, where the government can not release enough funding required, could create better opportunities in the aviation sector,'' Mr Harbison said.

UNI