New Delhi: The government today said it will "very soon" take a decision on the issue of allowing foreign airlines to pick up stake in the Indian carriers.
"This has been discussed with the Finance Minister, Civil Aviation Minister and myself and an appropriate view and decision will be taken very soon," Commerce and Industry Minister Anand Sharma told reporters at the sidelines of Hero Mindmine Summit here.
Accepting a major demand of the cash-strapped aviation industry, the government had on January 17 decided to launch the process to allow foreign airlines 49% stake in Indian carriers.
This was decided at a meeting between Finance Minister Pranab Mukherjee and Civil Aviation Minister Ajit Singh. The Civil Aviation Ministry thereafter circulated a Cabinet note on the matter.
Earlier, foreign airlines were not allowed to invest in Indian airlines, though foreign direct investment of up to 49% by FIIs and other investors, not connected with aviation business, was allowed.
05/04/12 Press Trust of India/Business Standard
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