Norms relaxation of Foreign Direct Investment (FDI) in civil aviation will not result in substantial increase in investment in the sector, states a report by PricewaterhouseCoopers (PwC) and Federation of Indian Chambers of Commerce and Industry (FICCI).
The report said that India is poised to be amongst the top three civil aviation markets by 2020 based on current growth trends. However, volatility in fuel prices combined with highest tax on aviation turbine fuel and other national policy related issues continue to challenge the sector’s growth.