12-Dec-2011 11:16 AM

India's Civil Aviation Ministry agrees to 26% FDI in private airlines: report

India's Civil Aviation Ministry has reportedly agreed to the proposal allowing foreign carriers to acquire a 26% stake in private airlines. According to a PTI report, the Ministry had previously proposed a 24% cap on foreign direct investment (FDI) by international airlines. The Department of Industrial Policy and Promotion (DIPP) proposed the 26% limit. The Home Ministry and the Planning Commission have already supported the draft Cabinet note in this regard.