New Delhi, March 11 -- Proposals for investments from Land Bordering Countries (LBC) in specified sectors or activities, that include rare earth permanent magnets, shall be processed and decided within 60 days under the relaxed FDI norms under the Press Note 3, government officials said on Wednesday.

Among other sectors that would benefit are capital goods, electronic capital goods, electronic components, polysilicon and ingot-wafer. Committee of Secretaries (CoS) under the Cabinet Secretary may also revise the list of specified sectors.

The government yesterday relaxed norms for inward investments from countries that have land borders with India.

Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Amardee...