Indian Minister for Civil Aviation, Praful Patel, stated the Indian Government will discuss a proposal to permit foreign airlines to acquire up to a 26% stake in domestic carriers (The Times of India, 08-Jul-2010). The foreign direct investment cap is set at 49%, excluding foreign airlines, which are not currently permitted to invest directly or indirectly. Mr Patel added the outlook is “good” for the Indian aviation sector. IATA announced support for the Indian Government to permit foreign airlines to invest in Indian domestic carriers, to improve efficiency (Telegraph India, 06-Jul-2010).
Ministry of Civil Aviation: “This issue would be discussed in coming few days. A final view may be taken shortly. Things are changing for better now and the outlook looks good for the industry,” Praful Patel, Indian Minister for Civil Aviation. Source: The Times of India, 08-Jul-2010.