In a note to be sent to the group of ministers on FDI, the department of industrial policy & promotion has suggested that the 40 per cent automatic approval for FDI in civil aviation should be extended to foreign airlines also.
While the draft civil aviation policy had encouraged private sector participation in the civil aviation sector, it had clearly stated
that substantive ownership
and effective control by Indians would be a pre-requisite.
Foreign equity up to 25 per cent and non-resident Indian
