FDI cap decision in third week of July: Chidambaram

Seeking to spur foreign investments, Finance Minister P Chidambaram has said the Union Cabinet will decide on raising FDI caps in different sectors in the third week of this month.

The Department of Industrial Policy and Promotion (DIPP) is holding consultations with different ministries on the suggestion of the Finance Ministry which, has proposed sweeping changes in FDI regime in sectors like defence, telecom and multi-brand retail.