New Delhi: The Union Cabinet on Wednesday relaxed rules for foreign direct investment in aviation, mining, commodity exchanges, construction, and credit information services.
The Government allowed FDI of up to 74 per cent in the automatic route for non-scheduled airlines, chartered airlines and cargo airlines.
It allowed investment in cargo, but foreign airlines will still be barred from investing directly or indirectly in non-scheduled airlines and chartered airlines.
The foreign equity limit in non-scheduled, chartered and cargo operations was earlier set at 49 percent.
However, non-resident Indians are allowed 100 percent equity participation in this segment, which would now be reclassified as "domestic scheduled passenger airline sector".
In the case of ground-handling services, up to 74 percent foreign equity will be allowed, with 100 percent for non-resident Indians. For maintenance, repairs and overhaul operations, 100 percent foreign equity has been permitted.
Similar equity limit has been allowed for flying training institutes, technical training institutions and helicopter and seaplane services, but with the prior approval of the regulator, the Directorate General of Civil Aviation.
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