Virgin Atlantic Airways Chairman Richard Branson has said he planned to invest about $50 million in his personal capacity in an Indian airline for which he was in talks with 'four different people' in the country.
"Virgin Atlantic (Airways) is not allowed to invest in India, but Richard Branson, I think, should be allowed to invest in India in his personal capacity," Branson said in an interview to NDTV Profit.
Under the existing Indian aviation rules, no foreign airline is allowed to pick up stake in any Indian carrier.
Maintaining that he was holding discussions with "four different people" in India who were in the aviation business, he said he planned to "invest $50 million in an Indian airline."
"Some of them (four different people he was talking to) have got airlines up and running and some are trying to set up an airline," he said when asked to name the people he was holding discussions with.
"I will be surprised if we don't reach an agreement in the next three to six months," Branson said, adding that he was principally interested in the financial stake "but if some of them wanted my help and advice I would willingly give it. But there are very capable people here."
He said he would also be happy to invest in the building of airport infrastructure in the country, but did not give any details.
Branson, who has about 250 businesses spread over 50 countries across the world, said he also was holding parleys with Indian telecom companies and wanted to set up a 50:50 joint venture in the mobile telephone business.
"We are in discussions with Indian companies. Hopefully something comes up," Branson said, adding that he hoped an agreement on the telecom business would be arrived "within 12 months time."
On his future plans of investment in India, the Virgin Group chairman said the group's financial service company was "a very successful business" in the United Kingdom and he hoped to invest or set up a bank in India in a couple of years. He was also interested in opening Virgin-branded health clubs, which have made their mark in the West, in India.
Observing that his space venture would be operational in the next two-and-a-half years, Branson said though the initial price of space travel would be as high as $190,000, he wanted to make it safe and affordable to passengers.
"I want to make the impossible possible," he said, maintaining that "half the world population wants to go to space and nobody is offering space travel. We are now the only company in the world to get into space travel."
On Virgin Atlantic's plans in India, Branson said he wanted to fly to many cities in India and increase frequencies to Delhi and Mumbai. "This government (in India) does seem to believe in competition. . . more the airlines, more people fly and it helps the economy."
The Virgin chief said the opening up of the aviation sector would unleash India's potential which had been held back till now. "We now have 42 frequencies (between India and the UK). We believe there should be another 42."
© 2025