Decision on 24 pc FDI in Indian carriers soon

New Delhi, Nov 17 (IBNS) India's Civil Aviation Ministry has proposed up to 24 per cent Foreign Direct Investment (FDI) by foreign companies in Indian carriers, reports quoting sources said.

The Industry ministry, reports say, wanted the cap at 26 per cent, but a final decision would be taken by the cabinet.

The Department of Industrial Policy and Promotion (DIPP) has proposed a 26 per cent cap.

The cabinet would discuss the issue soon, reports said.

Presently, foreign airlines companies cannot own stakes in Indian carriers, but FDI is allowed.

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