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AirAsia doesnÂ’t face FDI hurdles: Ajit Singh

AirAsia doesnÂ’t face FDI hurdles: Ajit Singh

Union Aviation Minister Ajit Singh has said that India allows foreign airlines to invest as much as 49 per cent stake in local airline firms regardless of whether the investment is made before a joint venture is formed or after. Singh was instrumental in permitting foreign carriers to invest in local airlines by amending the existing foreign direct investment rules, as part of efforts to help local airlines get much-needed funds.