Alpha cleared for business
By Administrator |
Despite the efforts of several vested interests to obstruct the process, Alpha Airports has been cleared by the Indian Finance Ministry's Foreign Investment Promotion Board (FIPB) as one of several companies now permitted to make
direct investments in the retail sector in India.
This effectively means that Alpha Airport Group has been given official approval to set up a wholly-owned subsidiary with local retailer Pantaloon to bid for duty free shops, flight kitchens and food and beverage outlets at Indian airports.
Several vested interests had tried to obstruct this clearance, but the Indian Finance Ministry stood its ground.
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