India to open 28 airports for FDI

By agencies   |   Tuesday, 29 March 2005, 08:00 Hrs
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DUBAI:India, set to announce further liberalization of the aviation sector, is opening up 28 airports for Foreign Direct Investment in areas of operation and maintenance of airports, a visiting delegation representing the Confederation of Indian Industry (CII) has said.

CII President Sunil Kant Munjal said that some of the airports would be offered on a concession, construction, and contract and lease-operation basis to either foreign operators or joint ventures.

India would need $150 billion for infrastructure projects in the next 10 years as the country is set to grow at an average rate of 7 percent in this decade, he told a gathering of Indian businessmen and professionals organized by the Indian Business and Professional Council (IBPC).

He said India needs heavy investments in important sectors like roads, energy, health, tourism, education and rural economy.

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