India eyes higher FDI cap in biz, defence: Rajan

India plans to raise caps on foreign direct investment in sectors including defence, Chief Economic Adviser Raghuram Rajan said on Tuesday.

June 05, 2013 / 09:49 IST

India plans to raise caps on foreign direct investment (FDI) in sectors including defence, Chief Economic Advisor Raghuram Rajan said on Tuesday. India currently allows 26 percent FDI in the defence sector.

In a bid to attract foreign inflows into the country, India allowed foreign companies last September to invest in local supermarkets and local airlines.

first published: Jun 5, 2013 12:58 am

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