| Date: |
19-01-2011 |
| Subject: |
FDI Bug Back in Multi-Brand Retail |
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The department of industrial policy and promotion's attempt to open up multi-brand retail sector has begun to receive consent from various ministries. Cabinet secretary KM Chandrasekhar suggested that FDI in multi-brand retail could heal the volatile and fluctuating food prices. This reflects that the government is now seriously reviewing the food prices and is trying to make these reforms into reality. The government's initial initiative to broaden this sector has failed during the UPA regime as Congress had opposed the move to support the Kirana shop owners. Currently, India allows 51 percent FDI in single-brand retail and 100 percent in wholesale cash-and-carry. FDI in multi-brand retail was one of the major issues discussed my President Obama. The major challenge for the government is the wholesome political acceptance of the idea.
Source : money.oneindia.in
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