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
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 portfolio investors to fully own local airlines, removing an earlier cap of 49 per cent, it said in a statement on Monday.
