No decision yet on FDI in multi-brand retail : FM
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Finance minister Pranab Mukherjee on Friday said that the government will not take an ‘off the cuff’ decision on the contentious issue of allowing FDI in multi-brand retail.
Given the complex nature of the issue, the government will also seek the views of state governments and arrive at a larger consensus before taking a decision, he said while responding to a calling attention motion in the Lok Sabha by Nishikant Dubey (BJP) and Gurudas Dasgupta (CPI). “The government has not taken any decision in this regard,” Mukherjee said.
India allows up to 51 per cent FDI in single brand retail but has foreign players are not permitted multi brand retail. Concerned by soaring prices of food items as well as the keen interest evinced by global chains like Walmart, the government has been considering the option of allowing foreign investment in multi-brand retail for a few years now, but the move has not found much support.
Indianexpress
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