The department of industrial policy & promotion (DIPP) on Monday held talks with various ministries, including defence and telecom, to review foreign direct investment (FDI) caps.

The meeting was attended by senior officials of all concerned ministries, viz. defence, telecom, petroleum and information & broadcasting. They discussed Economic Affairs Secretary Arvind Mayaram's report on FDI sectoral caps.

The DIPP asked the ministries to submit their contentions and views on the report within two-three days.

Speaking about the meeting, an official source said, "We have asked the departments to submit written suggestions within 2-3 days after which DIPP will prepare the report and give it to the commerce minister."

The report, which was submitted to the finance ministry nearly two weeks back, proposes notable hikes FDI caps for various sectors. For example, it proposes hiking of FDI limit in multi-brand retail sector to 75 per cent and allowing full foreign ownership of civil aviation and telecom companies.

The report also proposes doing away with FDI limits in sectors like private security agencies, ground handling at airports, non-scheduled air transport and satellites, to attract more FDI in the country.