Majority stake likely for foreign airlines

Foreign airlines may be permitted to have majority equity holding in domestic ventures. The move has been initiated by the Civil Aviation Ministry and a note is expected for Cabinet consideration soon. At present, the Government allows foreign equity on a case-by-case basis, allowing ample discretion to the Ministry. But no direct foreign investment has been allowed. In Jet Airways, two foreign airlines, Gulf Airways and Kuwait Airways, have adopted the NRI route with the NRI holding being 100 per cent.

Tea through PDS to bail out growers

In a bid to bail out the tea growers, the Government has decided to distribute tea through the public distribution outlets all over the country to improve its marketability. The decision follows recent representations from tea growers, said sources who pointed out that the States will soon be advised on the issue. The tea industry is facing a virtual glut due to the steep decline in exports, especially to the erstwhile Soviet Union and depressed domestic prices.

India for multilateral route to solve disputes

The Clinton Administration on Thursday announced its decision to ease Special 301 action against India by downgrading it from the topmost ‘priority foreign country’ category, citing an improvement of intellectual property rights protection in India following the tightening of laws to protect copyright and trademarks. India has not been let off the hook completely.

But, for the first time in three years, it has been removed from the ‘priority foreign country’ list to the lower grade ‘priority watch list’ under the Special 301 provisions of the US Trade Act.

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