March 14, 2012 / 6:42 AM / 5 years ago

India awaiting trade min nod for 49 pct FDI in airlines-source

Hyderabad, INDIA, March 14 (Reuters) - India is waiting for the trade ministry's approval for a proposal to allow foreign airlines to buy up to 49 percent stakes in Indian carriers, a government source said, adding it will not need a cabinet nod.

India currently bars foreign airlines from buying into Indian carriers, although foreign investors are allowed to hold a cumulative 49 percent. (Reporting by Anurag Kotoky; Editing by Rajesh Pandathil)

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