PSU Watch logo

| PM Modi likely to sign the proposed India-UAE free trade agreement in Dubai in Jan 2022 |   | NMDC announces interim dividend of Rs 9 per equity share |   | IEX shares rise for second day after turning ex-bonus |   | Private investment to pick up: CEA |   | MRPL board approves 100% CCD acquisition from OMPL |  

No decision has been taken on Air India so far: Piyush Goyal

Union Minister Piyush Goyal has clarified that no decision pertaining to the 100% disinvestment of Air India has been taken so far by the government
No decision has been taken on Air India so far, said Piyush Goyal
No decision has been taken on Air India so far, said Piyush Goyal

New Delhi: Commerce and Industry Minister Piyush Goyal on Saturday said the government has not taken any decision on Air India so far and the final winner will be selected through a well-defined process. "I have been in Dubai since... the day before and I don't think there is any such decision that has happened at all. Of course, bids were invited...and that is assessed by the officers and in due course of time, there is a whole well laid down the process through which the final winner will select," he told reporters. He was replying to a question about media reports stating Tatas have emerged as the top bidder for the takeover of debt-laden Air India.

Tuhin Kanta Pandey, Secretary to Department of Investment and Public Asset Management (DIPAM) had issued a statement on Twitter on Friday that the Centre has so far not approved any financial bid for Air India. "Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government's decision as and when it is taken," he had tweeted.

Piyush Goyal is currently on an official visit to UAE. He inaugurated the Indian Pavilion at Dubai Expo 2020 on October 1 here.

When asked about the proposed free trade agreement with the UAE, the minister said there are a lot of opportunities for Indian businesses in sectors such as textiles, gems and jewellery, pharma and healthcare. There is tremendous potential in both goods and services.

On investments, he said, "we have to encourage Indian businesses to engage with the UAE."

Goyal said businesses in the UAE have shown keen interest in India.


"We will have to encourage more Indian businesses to engage...Everyone who met me wanted to be partners in infrastructure development initiatives, they are very keen to look at the asset monetisation programme, they are keen to partner with India on promoting tourism," he said.

The minister noted that a lot of potentials is available for Indian businesses who are dealing with the UAE in high technology work like providing software services.

"The UAE has good potential offerings for India. Investment is one big area where we can work in a big way....the UAE has over the years developed capabilities in industries where low-cost energy can help India get quality products at very attractive prices," Goyal said.

Further, Vikramjit Sahney, Member of India-UAE Joint Working Group on Energy, said the expo will further foster economic and cultural bondage between the two countries.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)