| Date: |
02-12-2010 |
| Subject: |
FDI In Multi-brand Retail Under Consideration: Govt |
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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
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