India Increases FDI Limits: 100% in Petroleum Sector, Up to 49% in Air Transport Services for Foreign Entities.

The circular addresses the liberalization of Foreign Direct Investment (FDI) limits in the Petroleum sector and Air Transport Services in India. It allows up to 100% FDI under the Automatic Route in petroleum product marketing, oil exploration in small and medium fields, and petroleum product pipelines. For the Air Transport Services sector, 100% FDI is permitted by Non-Resident Indians (NRIs), and up to 49% by other foreign entities, excluding foreign airlines. The circular directs Authorized Dealer banks to inform their clients and customers about these changes, issued under the Foreign Exchange Management Act, 1999.

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