India allows foreign airlines to buy stakes in local carriers-TV
India has decided to allow foreign airlines to buy stakes in local carriers, TV stations said on Friday, in a much-awaited policy move that provides a potential lifeline to the country's debt-laden airlines by opening up a fresh source of funding.
Reliance Industries Ltd., India's biggest company by market value, is looking at selling stakes in some overseas exploratory oil and gas blocks, its executive director said Wednesday.