Centre: No change in retail FDI
As per the current policy, 51 per cent FDI is permitted in multi-brand retail
By : DC Correspondent
Update: 2014-07-19 04:36 GMT
New Delhi: The government on Friday said it has not taken any decision on permitting FDI in multi-brand retail trading.
“As per the extant policy, foreign direct investment up to 100 per cent is permitted in single brand retail while no decision on FDI in multi-brand retail trading has been taken,” commerce and industry minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
As per the current policy, 51 per cent FDI is permitted in multi-brand retail. Ms Sitharaman, after assuming the office had said that FDI in multi-brand retail will adversely impact small traders and farmers.