The Indian government Tuesday referred Jet Airways proposal to raise Rs.2,000 crore or $400 million from overseas investors to the Cabinet Committee on Economic Affairs, as the investment exceeds Rs.600 crore, say media reports quoting an official.
Jet had planned to raise the amount via equity investment through the Qualified Institutions Placements route from Foreign Institutional Investors. It plans to utilize the proceeds for meeting its cash flow needs.
Earlier the Foreign Investment Promotion Board (FIPB) had deferred the proposal, on the ground that Jet's proposal could have breached the 49% cap on FDI in an Indian airline.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.