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<h1>Bilateral flying rights must protect domestic airline investments and associated aviation industry benefits from rapid liberalisation.</h1> The piece contends that the pace of liberalisation of bilateral flying rights must be calibrated to avoid undercutting investments by Indian carriers and aviation players; rapid liberalisation could weaken the business case for wide body fleet deployment and erode ancillary benefits to MRO, manufacturing, tourism and other connectivity enabled sectors, so policy should balance market access with preservation of domestic investment incentives.