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New Delhi Feb 12 The Government plans to review the Foreign Direct Investment (FDI) equity cap in various sectors in March, the Secretary, Department of Industrial Policy and Promotion, Mr Ajay Dua, said here on Monday.

Addressing a meeting organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), Mr Dua said that different Ministries were currently consolidating their proposals to attract more foreign funds into the country.

The review is also likely to see a further liberalisation of the FDI cap in the infrastructure sector. The proposed move could lead to an estimated three-fold rise in FDI in the tourism sector to $1.5 billion by 2010 from the current level of $450 million.

Turning his attention to the hotel and tourism sector, Mr Dua said that FDI inflow into the sector was a mere $450 million during the past 15 years, which was not in line with the opportunities available.

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