In proposing to open up the commodity sector, the ministry has said that FII investment be limited to 24 per cent, with a condition that a foreign investor cannot hold more than 10 per cent equity in the investing companies.

FDI in mining titanium-bearing minerals and their processing is also proposed to be hiked to 100 per cent.

Moreover, to boost foreign investment, the ministry has proposed that the limiting conditions of Press Note 2 of 2005 will not apply to industrial parks.

In addition, 74 per cent FDI through the automatic route is proposed to be allowed in scheduled, chartered and cargo airlines as well as ground handling services, up from the present limit of 49 per cent.

Maintenance and repair operations in the civil aviation sector may be allowed 100 per cent FDI. The ministry has also proposed that foreign airlines be allowed to invest in cargo airlines.

Also on the cards is a proposal to hike the FDI limit in PSU refineries to 49 per cent from 26 per cent.

However, the ministry has finally dropped its earlier plan to open specialty retail to FDI. This does not find mention in the latest list of proposals submitted for the nod of the Cabinet Committee on Economic Affairs (CCEA).