<br/>Buoyed by its armament majors securing multi-billion contracts, US has asked India to raise its cap on FDI in defence sector to 49 per cent from existing 26 per cent. Making a pitch for this, the Obama Administration also wants India to undertake more sweeping reforms to attract new investments, saying this will propel New Delhi to a higher growth rate. Assistant Secretary of State for South and Central Asia Robert Blake said in Washington that reforms to date have made Indian companies leaders in areas such as IT, pharmaceuticals, telecommunications, and now increasingly, in manufacturing as well as in clean energy. He said, the US hoped the India will seize the opportunity to undertake new reforms that will both attract new investment and propel higher growth. His comments at the Washington International Business Council meeting come as US defence majors Lockheed Martin, Boeing and other firms have bagged almost all the major Indian armed forces contracts worth more than 10 billion US Dollars.<br/>