Branson interested in railways, not Indian aviation

Virgin Group chairman Sir Richard Branson, in India for launching new flights connecting India with the UK and the US, clearly indicated on Thursday evening that the time was not right for investing in Indian aviation, despite the government liberalising the rules.

''It's a brave battle going on in the Indian aviation space now. Everybody is bleeding. There will be a right time and we will watch," the promoter of the aviation to railways to entertainment group said at a pre-launch party at the Taj Man Singh hotel in New Delhi.

At the same time, in answer to a question, Branson indicated that he is not averse to investing in the Indian railway sector, particularly for high-speed trains, if the opportunities were right.

With the government focus on infrastructure, Indian Railways is keen to attract private investment for high-speed trains for six routes, and has been studying various ways to attract funding.

Branson recalled that even his investment in British Rail was inspired by a journalist's question. ''It is funny. My foray into the British Rail scene was after a journalist asked me whether I would enter the railways. The day after, I saw the news flashed in the media. It was then that I found the numbers of British Rail authorities and started calling them,'' he said.

Incidentally, Virgin Rail – which has a 15-year train operating licence in the UK – has moved the courts after having lost the chance to another bidder to renew the licence.