New Delhi: Government will set up a regulatory framework for infrastructure to create the necessary environment to attract $ 150 billion Foreign Direct Investment (FDI) in the sector for achieving 7-8 per cent growth, Prime Minister Manmohan Singh announced today (Oct 19, 2004).

"We are working towards the creation of a regulatory framework in infrastructure sector that would be transparent and independent and based on international best practices," he said inaugurating the third India-Asean business summit in New Delhi.