Deals
Modi Renews Vow to Sell Air India After Last Attempt Flopped
- It’s part of plans to raise over $15 billion selling assets
- India needs money to fund welfare, infrastructure programs
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India will revive plans to sell Air India Ltd., after an attempt to partially exit the loss-making carrier failed to find a single buyer last year.
The high-profile divestment would be part of Prime Minister Narendra Modi’s efforts to raise 1.05 trillion rupees ($15.3 billion) selling stakes in state-run companies, finance minister Nirmala Sitharaman said in her maiden budget speech on Friday. The administration will also look to sell other state-run companies or merge some of them, she said.