NEW DELHI (REUTERS) - India's Foreign Investment Promotion Board will consider a proposal from Singapore Airlines to set up an airline in the country in a joint venture with the Tata Group on Oct 18, according to the regulator's website.

Tata and Singapore Airlines plan to form a full-service airline based in New Delhi, the companies said last month. The two will initially invest a combined US$100 million (S$125 million) to start the carrier, with Tata Sons owning 51 per cent and Singapore Airlines the rest.