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Competition makes sense: Branson

NEW DELHI: Virgin Group Chairman Richard Branson has said India and the United Kingdom would free all restrictions on trade with each other. “Civil aviation is one area,” he pointed out.

Mr. Branson is among several high profile businesspersons accompanying the British Prime Minister Gordon Brown.

“I hope one day there will be no ban on any company from doing business. I think competition makes sense,” he said.

Virgin operates international flights from India but is hesitant to enter the domestic civil aviation sector where there is a limit of 49 per cent on foreign investment in non-scheduled airlines.

“At the moment the market is protected. When the market opens up, Virgin would be there to join Jet Airways and Kingfisher as competition. It will be extremely good if the government opened up,” he told Britain Today before leaving for India.

Mr. Branson is also interested in investing in the Indian mobile phone segment and the group has applied for permission to enter the market. “It will not be long before we enter the mobile phone business in India. We have a partner now.”

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