The Hindu Business Line : Branson bullish on prospects in India

Sir Richard said "We would like to pick up a stake in Air Sahara if the current regulations allow. We will roll up our sleeves to get into the domestic aviation sector."

New Delhi , Nov. 17

THE Chairman of the Virgin Group, Sir Richard Branson, on Thursday expressed a keen interest on investing in numerous sectors in India including aviation, telecom and hospitality if allowed to do so.

Speaking on the sidelines of The Madhavrao Scindia Memorial Lecture that he delivered on Social Responsibilities of Corporates, Sir Richard said "We would like to pick up a stake in Air Sahara if the current regulations allow. We will roll up our sleeves to get into the domestic aviation sector."

On his previous trip here, Sir Richard has indicated that he was willing to invest his personal funds in a domestic airline to circumvent current Indian laws.

Currently, foreign airlines are not allowed to either directly or indirectly invest in a domestic airline.

The Group is also looking at the prospects of investing in the domestic airports.

The Virgin Chairman felt that there was tremendous untapped potential in the domestic hotel industry, especially with falling airfares and an increase in tourist arrivals here.

The Virgin chief proceeds to Mumbai on Friday to hold further discussions to consider other business opportunities here.

Although the Virgin Group has a whole host of companies in the UK, only Virgin Atlantic airlines is currently operational in the country.

The airline operates a daily service from both Mumbai and Delhi to London.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page