Air India IPO May Be Considered In Near Future

An initial public offering of shares in state-run carrier Air India could be considered in the near future, India's newly appointed aviation minister said Monday.

"An IPO could be considered in the near future," Praful Patel told reporters, adding it would depend on the state of the equity markets.

The Congress party-led government is seen rolling out reforms, including privatization and the increase of foreign investment caps, to lift the economy and attract investment, after it was returned to power with a decisive mandate in last month's federal elections.