"We will not allow any foreign airlines to invest in Indian carriers," Civil Aviation Minister Praful Patel said.
There is no proposal before the government to allow them (foreign airlines) to take stake in domestic carriers, Patel said.
Earlier, the Naresh Chandra Committee had recommended allowing foreign airlines to invest in airlines in India.
"Investment by foreign airlines should be allowed up to 49 per cent with the approval of the foreign investment promotion board. In all other non-scheduled air services, foreign investment, including investment by foreign airlines, should be allowed up to 100 per cent," the committee said.
