The civil aviation ministry has recommended security checks by the home ministry and clearance by the Foreign Investment Promotion Board as the critical modalities for allowing foreign airlines to take up to 49% stake in Indian carriers. Civil aviation minister Ajit Singh told ET that his department will send its recommendations to the Department of Industrial Policy and Promotion ( DIPP), which is preparing a Cabinet note on the proposal of allowing foreign carriers to pick up 49% stake in domestic airlines.
Source: Economic Times
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