Government Completes FSNL Privatization

In a significant move, the Indian government has successfully completed the privatization of FSNL, a subsidiary of MSTC, by transferring 100% of its shares to Japan’s Konoike Transport Company. This strategic transfer also includes the handover of management control, marking a new chapter for FSNL.

The new board, led by the strategic partner, has officially taken charge, as announced by the Dipam secretary on X. This development is a pivotal moment in the ongoing efforts to privatize and revitalize state-owned enterprises in India, aiming for greater efficiency and global competitiveness.