India is relaxing entry requirements for retail marketers of gasoline and diesel.
The Cabinet Committee on Economic Affairs approved changes to a 17-year-old policy covering authorization to market transportation fuels “to bring it in line with the changing market dynamics and with a view to encourage investment from private players, including foreign players, in this sector.”
Among changes is a lowering of the required net worth of foreign applicants to the rupee equivalent of $35 million, one-eighth its former level. Also, a requirement that investors in retail oil marketing be oil and gas companies has been eliminated.
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