India may allow foreign carriers in airlines-paper

MUMBAI, Nov 6 (Reuters) - India is set to consider a proposal to allow foreign airlines to own up to 49 percent equity in Indian carriers, the Indian Express reported on Friday.

A committee of secretaries chaired by Cabinet Secretary K.M. Chandrasekhar will take up the proposal on Nov. 17, the newspaper said, citing an unidentified official.

Foreign airlines are now barred from holding any stake directly or indirectly in domestic carriers.

Vijay Mallya-controlled Kingfisher Airlines (KING.BO) has been calling for opening up the sector to foreign direct investment. (Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan)