NEW DELHI: A consortium of nonresident Indian (NRI) investors has agreed to operate air taxis in the country but have urged. The government to remove the numerous hurdles they face in their operations,
Promoter of the venture Praful Patel said the entire foreign exchange outlay; both for initial acquisition and for subsequent support from overseas will be completely be come by the company.
However, Patel felt that the rates of customs duty payable by NRI private operators should be made on par with national airlines since the prevailing duties was very exorbitant.
The current duty was 40 percent whereas national airlines paid only three percent; he said and added that due to this many NRI’s had reservations of launching such a taxi service in the country.
Article extracted from this publication >> January 26, 1990
