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India retains restrictions on foreign carriers' stake

They are barred from raising their stakes in local carriers beyond 49 per cent but other foreign entities such as funds and portfolio investors can fully own local airlines

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Mr Modi's administration has also raised investment limits for existing airports.

Mumbai

INDIA retained restrictions that prevent overseas airlines from raising stakes in local carriers even as it unveiled new rules to attract foreign investors into the world's fastest growing major aviation market.

The government will allow foreign entities such as funds and

sentifi.com

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