DIPP, finmin officials discuss Mayaram panel report

Senior officials from the Department of Industrial Policy & Promotion (DIPP), the finance ministry as well as other departments huddled up on Monday to discuss the Mayaram panel report on FDI reforms.

Also read: Mayaram submits FDI report to FM; recommends hiking caps

The report calls for opening up of all sectors to the extent of 49 percent FDI through the automatic route, as well as allow 100 percent FDI in telecom and 74 percent FDI in retail and civil aviation.

The meeting of officials will be followed by a high-level meeting that will be chaired by the Prime Minister on FDI reforms later this month.

Earlier on Monday, commerce minister Anand Sharma met finance minister P Chidambaram to discuss the Mayaram Panel report as well as new norms for brownfield FDI in the pharma sector.

Anand Sharma, commerce minister, says, "The finance minister and I have had a rather comprehensive discussion and reviewed the overall situation with particular regard to CAD, the market's progress and the FDI scenario. We have been attracting FDI even during the difficult years and we hope to continue to do that."

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