Foreign direct investments in petro-sector and air transport Services
Reserve Bank of India informs authorized dealer banks that the government of India has further liberalized the foreign direct investment limit in petroleum sector and domestic air lines under the automatic route. FDI upto 100% is permitted in petroleum marketing, oil exploration and petroleum product pipe lines. In the domestic air line sector FDI upto 100% is permitted by non-resident Indians and upto 49% by others. However foreign air lines are not allowed either direct or indirect equity participation.
RBI Circular No. 4, Dated: July 29, 2005