The FDI proposal was approved in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. This FDI is exclusively for investment in infrastructure and construction sectors. This can include transportation and logistics as well as airport services (downstream) and aviation related businesses and services.
Investment in Bangalore International Airport Ltd. stake in Anchorage Infrastructure Investment Holding Ltd. transfer is included. In addition, Anchorage Infrastructure Investment Holding Ltd. by Ontario Inc. An investment of Rs 950 crore is involved in this. 2726247 Ontario Inc. is a wholly subsidiary of OAC, which operates OMERS, the statement said. It is one of Canada’s largest fixed benefit pension plans. It said that this investment will give impetus to the infrastructure and construction sector as well as the airport sector.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.