The Indian home ministry has declared no objections to an increase in foreign direct investment (FDI) in Indian airlines to 26% proposed by the civil aviation ministry in November. However before it can be approved, the industry needs to secure an exemption from the takeover code, which stakes that the acquisition of a 25% stake automatically triggers an open offer. The finance ministry is reported to be in negotiations with the Securities & Exchange Board of India (SEBI) to secure such an exemption, once that is achieved the Department of Industrial Policy and Promotion (DIPP) will move the cabinet note
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