Piyush Goyal also said that India is focusing on integrating its quality standards with the world and the country needs to let go of the mindset of a particular product being for the domestic market and others for the export market.
The panel has discussed that there should be a 49 percent cap for FII and FDI tends to come in through the portfolio route because there are no conditions on FII investment. FII investment can go up till the sectoral cap with just a board resolution.
"Two things have to happen. One, we need to have stability in the markets so that FIIs (foreign institutional investors) are incentivized to come back again. Secondly, India's growth story has to come back. India is always been a growth stock. People come here not looking for just 3-4 percent returns," says Standard Chartered Bank.
Sandeep Shah of Sampriti Capital, in an interview with CNBC-TV18’s Sonia Shenoy and Latha Venkatesh, said that he expect the Nifty would be ranged between 5,000-5,200 levels.