Tata calls for easing FDI norms

India should look at raising foreign direct investment limits across sectors to make investments by overseas Indians easier, Ratan Tata, chairman of the Investment Commission, said today.

"India's investment potential is tremendous and these opportunities need to be pursued," Tata said in his address at the Pravasi Bhartiya Diwas.

According to the estimates of the Investment Commission, India needs $1.5 trillion capital investment over the next five years to maintain 8 per cent growth.

The panel also said the country's economy needed $72 billion of foreign direct investment in the next five years.

Tata, who heads the Tata group, said roadblocks in the investment scenario should be removed to attract more foreign investment.

He said over the past few years, investment norms had been simplified overseas, following which several Indian companies were acquiring businesses abroad.