Chidambaram: can relax `outdated` FDI caps

Chidambaram: can relax 'outdated' FDI caps

Last Updated: Mon, Mar 18, 2013 06:17 hrs
India's Home Minister Chidambaram speaks during a news conference in Islamabad

India can remove or relax many of the "outdated" caps on foreign direct investment (FDI) in different sectors, Finance Minister P. Chidambaram said on Monday.

A review of caps in different sectors is on, but the cabinet will take a final call on where to relax investment restrictions, he said in an interview to Bloomberg TV India.

India liberalised rules on foreign investment in the country's supermarket and aviation sectors last year, but many investors would like the government to press ahead with more reforms in order to boost flagging economic growth.

More from Sify: