Government to lift FDI cap in some sectors by July: Finance Minister

India will lift foreign direct investment (FDI) caps in some sectors by the third week of July, Finance Minister P. Chidambaram said on Tuesday.

He said a finance ministry panel has already submitted a report on revising FDI caps in different sectors, and the Department of Industrial Policy and Promotion is in talks with stakeholders.

India is widely expected to raise FDI limits in sectors like defence and telecommunications. Chidambaram on Tuesday did not name the sectors.