FDI In Multi-brand Retail Under Consideration: Govt .

An inter-ministerial committee is examining a discussion paper released by the Department of Industrial Policy and Promotion on 'foreign direct investment in multi-brand retail trading,' Prof. K.V. Thomas, Minister of State for Agriculture, Consumer Affairs, Food & Public Distribution, told the Lok Sabha in a written reply on Tuesday.

While the existing policy allows for 51 % foreign direct investment (FDI )in only single brand retail, the government has received suggestions from associations /trade bodies for allowing FDI in multi-brand retail sector subject to the fulfillment of certain conditions like capping the level of foreign investment and creation of back-end logistics by the overseas players. India currently allows 100 percent FDI in the wholesale cash-and-carry business.

Source : rttnews.com