FDI Limits Hiked in Key Sectors Tuesday July 16,2013

The UPAGovt hiked limits and relaxed rules for Foreign Direct Investment(FDI) in key sectors including defence, telecom, insurance, commodity exchanges and power exchanges

These major policy decisions — taken late on Tuesday July 16,2013 at a meeting convened by Prime Minister Manmohan Singh — are aimed at boosting the flow of foreign funds in the light of a depreciating rupee against the dollar and a bid to turn around declining investor sentiment

Apart from Union Minister of Commerce and Industry Minister Anand Sharma, others present at the meeting were Finance Minister, P. Chidambaram, Defence Minister A.K. Antony, Petroleum and Natural Gas Minister Veerappa Moily and Minister of State for Power (Independent charge), Jyotiraditya Scindia