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of <h1>Amendment to Foreign Exchange Rules: 100% NRI Investment in Air India, 49% Cap for Other Foreign Airlines.</h1> The Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2020, effective from July 27, 2020, amend the 2019 rules. The Reserve Bank of India will administer these rules, issuing necessary directions for effective implementation. Amendments include changes to air transport services, allowing 100% foreign investment under the automatic route up to 49%, and beyond 49% through the government route for non-resident Indians. Foreign airlines can invest in Indian air transport services up to 49% under specific conditions, ensuring substantial ownership remains with Indian nationals. Investments in Air India are capped at 49%, except for NRIs, where 100% is permitted.
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